Is it true any units can be a SOHO when you apply for it?
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Another issue requiring guidelines is that of Soho - or small office, home office - units, which are gaining popularity with investors. In fact, the term 'Soho' is a marketing term used by developers and their agents. It does not refer to a specific development type that the URA grants approval for. Marketing agents will say Soho units can double as office space, and can fetch higher rent, in order to justify the higher sales price. When the project is completed, however, the developer might not provide adequate support for the units to be converted into offices. Some buyers may find that their application for home office use is rejected depending on the nature of the business they want to register, or if approved, later reversed if the business receives complaints from neighbours. Rules governing the marketing of Soho projects should be clarified to ensure that agents do not overpromise or overstate the merits of their products. Penalties for flouting the new guidelines should also be severe enough to deter misrepresentation. Developers and their marketing agents will have to realise that promotional materials to market properties are aids to help buyers make sensible decisions on million-dollar investments - and not occasions for marketing gurus or designers to indulge in wild flights of imagination.
- The Straits Times