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Regulating Information Asymmetry in the Residential Real Estate Market - The Hong Kong Experience (Hardcover)
Loot Price: R4,558
Discovery Miles 45 580
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Regulating Information Asymmetry in the Residential Real Estate Market - The Hong Kong Experience (Hardcover)
Series: Routledge Studies in International Real Estate
Expected to ship within 12 - 17 working days
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This book conducts a detailed examination of the current form of
the Hong Kong residential property regulatory system: the 2013
Residential Properties (Firsthand Sales) Ordinance (Cap 621). The
author sheds light on how the new legislation promotes a number of
values including information symmetry, consumer protection, the
free market and business efficacy. It provides a detailed account
of how the regulatory mechanism has evolved over the past three
decades to catch unconsscionable sales tactics (such as selective
information and/or misrepresentation of location, size, completion
date and past transactions) and monitor sales practices in order to
protect the interests of stakeholders in this ever-changing
first-hand residential property market. This book breaks down this
complicated subject matter by focusing a number of chapters each on
a specific attribute of the residential property on sale. It then
examines the various channels through which the information is
communicated to the prospective buyer and discusses
misrepresentation of the key information in sales of residential
properties as criminal liability.The tension between consumer's
rights on one hand and the pursuit of free market principles on the
other is but one example of the conflicting values thoroughly
discussed in the book, others include superstition vs.
modernization and clarity vs. flexibility. Aimed at those with an
interest in consumer protection and transparency-orientated
legislation in commercialized real estate transactions, this book
seeks to provide an in-depth discussion of the latest trends and
directions of travel.
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