Acronym flashcards
Tap to flip. Space flips, → got it, ← again.
All 50 terms
Regulation| Term | Stands for | Meaning |
|---|
| CEA | Council for Estate Agencies | Statutory board that regulates estate agents and salespersons. |
| RES | Real Estate Salesperson | Individual registered with CEA to do estate agency work for one estate agent. |
| EA | Estate Agent | The licensed business entity that salespersons are registered under. |
| KEO | Key Executive Officer | Person responsible for the proper management of an estate agent. |
| EAA | Estate Agents Act | Main legislation governing estate agency work. |
| CPD | Continuing Professional Development | Ongoing training salespersons must complete to renew registration. |
| PMLPFTF | Prevention of Money Laundering, Proliferation Financing and Terrorism Financing | Duties to check clients and report suspicious dealings. |
| CDD | Customer Due Diligence | Identifying and verifying a client before acting for them. |
| STR | Suspicious Transaction Report | Report filed when a transaction is suspected to involve criminal proceeds. |
| CPFTA | Consumer Protection (Fair Trading) Act | Protects consumers against unfair practices. |
| PDPA | Personal Data Protection Act | Governs collection, use and disclosure of personal data. |
| DNC | Do Not Call Registry | Numbers that must not receive unsolicited marketing calls or messages. |
Agencies| Term | Stands for | Meaning |
|---|
| HDB | Housing & Development Board | Public housing authority. |
| URA | Urban Redevelopment Authority | National land-use planning and conservation authority. |
| SLA | Singapore Land Authority | Manages State land and the land titles registry. |
| IRAS | Inland Revenue Authority of Singapore | Collects property tax and stamp duties. |
| MAS | Monetary Authority of Singapore | Central bank; sets property loan rules such as TDSR and LTV. |
| BCA | Building and Construction Authority | Regulates building works and strata management. |
| JTC | JTC Corporation | Lead agency for industrial land and space. |
| CPF | Central Provident Fund | Compulsory savings scheme; Ordinary Account savings can be used for housing. |
| LDAU | Land Dealings Approval Unit | SLA unit that handles foreign ownership approvals for restricted property. |
| STB | Strata Titles Boards | Tribunal for strata disputes and collective sale applications. |
Tax & finance| Term | Stands for | Meaning |
|---|
| BSD | Buyer's Stamp Duty | Duty on the higher of purchase price or market value. |
| ABSD | Additional Buyer's Stamp Duty | Extra duty on residential purchases, by buyer profile and property count. |
| SSD | Seller's Stamp Duty | Duty on residential property sold within the holding period. |
| AV | Annual Value | Estimated gross annual rent of a property; the base for property tax. |
| AAR | Average Annual Rent | Base used to work out stamp duty on a lease. |
| TDSR | Total Debt Servicing Ratio | Total monthly debt repayments capped at 55% of gross monthly income. |
| MSR | Mortgage Servicing Ratio | Housing instalments capped at 30% of income for HDB flats and ECs. |
| LTV | Loan-to-Value | Maximum loan as a share of the property value. |
| LBC | Land Betterment Charge | Charge on the rise in land value from development approval. |
Transactions| Term | Stands for | Meaning |
|---|
| OTP | Option to Purchase | Gives the buyer the right to buy at an agreed price within a set period. |
| SPA | Sale and Purchase Agreement | Binding contract of sale between seller and buyer. |
| LOI | Letter of Intent | Tenant's written proposal of terms before a tenancy agreement. |
| TA | Tenancy Agreement | Contract between landlord and tenant. |
| TOP | Temporary Occupation Permit | Allows a completed building to be occupied. |
| CSC | Certificate of Statutory Completion | Issued when all building requirements are fully met. |
| CSA | Collective Sale Agreement | Agreement signed by owners consenting to an en bloc sale. |
| MCST | Management Corporation Strata Title | Body of owners that manages a strata development. |
| BMSMA | Building Maintenance and Strata Management Act | Governs management and maintenance of strata developments. |
| RPA | Residential Property Act | Restricts foreign ownership of certain residential property. |
| GFA | Gross Floor Area | Total covered floor area measured to the external walls. |
| GPR | Gross Plot Ratio | Gross floor area divided by site area; sets development intensity. |
HDB| Term | Stands for | Meaning |
|---|
| MOP | Minimum Occupation Period | Time owners must live in an HDB flat before selling or renting it out whole. |
| EIP | Ethnic Integration Policy | Ethnic proportion limits for each HDB block and neighbourhood. |
| SPR | Singapore Permanent Resident | Also a quota: caps non-Malaysian PR households per block and neighbourhood. |
| HFE | HDB Flat Eligibility letter | Confirms eligibility to buy a flat, receive grants and take an HDB loan. |
| BTO | Build-To-Order | New HDB flats built after buyers apply. |
| EC | Executive Condominium | Public-private hybrid housing with initial HDB-style restrictions. |
| SERS | Selective En bloc Redevelopment Scheme | Government redevelopment of selected older HDB blocks. |