Regulating Information Asymmetry in the Residential Real Estate Market: The Hong Kong Experience, 1st Edition (Hardback) book cover

Regulating Information Asymmetry in the Residential Real Estate Market

The Hong Kong Experience, 1st Edition

By Devin Lin

Routledge

280 pages

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Hardback: 9781138231399
pub: 2017-07-05
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pub: 2017-07-06
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Description

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.

Table of Contents

Chapter 1 Introduction

Chapter 2 The Way to Legislation

Chapter 3 Saleable Area

Chapter 4 Gross Floor Area

Chapter 5 Internal Structures, Fittings and Finishes

Chapter 6 Location

Chapter 7 Floor Number

Chapter 8 Date of Completion and Lease Term

Chapter 9 Deed of Mutual Covenant and Land Grant Conditions

Chapter 10 Price List

Chapter 11 Sales Arrangement

Chapter 12 Transaction

Chapter 13 Information Channels

Chapter 14 False or Misleading Information and Misrepresentation

Chapter 15 Regulation by Legislation

About the Author

Devin S. Lin, PhD reseraches on Construction Law and Property Law and is now teaching in the Southwest University of Political Science and Law, China.

About the Series

Routledge Studies in International Real Estate

The Routledge Studies in International Real Estate Series presents a forum for the presentation of cutting edge research into international real estate issues published to Routledge’s exacting academic standards. Books in the series will be broad in their conceptual scope and reflect an inter-disciplinary approach to Real Estate as an academic discipline.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS036050
BUSINESS & ECONOMICS / Investments & Securities / Real Estate
BUS054000
BUSINESS & ECONOMICS / Real Estate
BUS054010
BUSINESS & ECONOMICS / Real Estate / Buying & Selling Homes
BUS054030
BUSINESS & ECONOMICS / Real Estate / Mortgages
LAW047000
LAW / Housing & Urban Development
LAW055000
LAW / Land Use
LAW074000
LAW / Property
LAW078000
LAW / Real Estate
LAW112000
LAW / Landlord & Tenant
TEC005000
TECHNOLOGY & ENGINEERING / Construction / General