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Hong Kong proposes law on new home sales

Roland Lim Channel News Asia 12/01/2011 03:18
Hong Kong proposes law on new home sales - Real Estate - Property - Business - Hong Kong

Developers in Hong Kong may face tougher rules on new home sales. The government is proposing new legislation to regulate the sale of all new properties in the city.

This includes tougher penalties for developers and agents who give false or misleading information to buyers - and also strict rules on how and when information about flats should be publicised.

The government also wants to come up with a standard definition for the saleable area of flats that excludes bay windows.

Ms Eva Cheng, Hong Kong Housing Secretary said: "At the end of the day, we're talking about buying properties, and it's a very long-term commitment. That's why it's important that we have this in the sales brochure as well as in the price-list, very specific requirements as to the provision of the information altogether."