Assignment task: Given that the Singapore rental market is facing issues such as;
Affordability-??the high cost of renting a home in Singapore poses a significant challenge for many individuals and families particularly those with lower incomes or limited financial resources
Rental Transparency - Rental prices are often subject to negotiation, which can lead to information asymmetry & unequal bargaining power between landlords & tenants
Tenancy Protection- Tenants in Singapore often face challenges related to tenancy agreements, unfair eviction practices, and disputes with landlords. Enhancing tenancy protection measures can help address these issues and provide a more secure and stable rental market
Marketing Practices - Some property agents or landlords may engage in false advertising by misrepresenting the features or conditions of rental properties They may use misleading photos exaggerate amenities, or make false claims about the property to attract potential tenants.
For a research project, I propose the idea of applying the solution of WoningWaarderingsStelsel (WWS), which is the Netherlands rental points system, which aims to reduce the information asymmetry and unequal bargaining power in the rental market by providing a standardized and transparent way to determine rental prices. This system determines how many points a house scores and thus whether a house belongs in the free sector or in the social sector. Kindly provide your opinion and backup research, supporting this solution. Does the solution seem feasible and effective? and does it address one or more of the issues in the Singapore rental market