• RICS encourages regulation of the sale of new flats by law

    22 October 2011

    In view of the rising concern and recent disputes about potential property buyers receiving incorrect information about new flat for sales, RICS believes regulating the sale of new flats by law will help protect the consumers by providing them a clearer picture on the sales process, as well as improving the transparency in information disclosure of new properties. This will ensure that the public is well informed before they make a purchase.

    RICS will establish a task force to give further advice to the steering committee that will submit the bill to Transport and Housing Bureau at the Legislative Council next month. Mr Denys Kwan, Chairman of RICS Working Group said, “It is important to pass the legislation as soon as possible as residential property is the most important purchase in many people’s lives. We believe this new legislation will help regulate the market in a more fair and transparent way. ”

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