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Consumer Council comment on 'market manipulation' and The Real Estate Developers Association of Hong Kong refute

Squarefoot Editor  2014-11-14  528 #Tips For Transaction
Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok )Consumer Council recently criticized the way that the developers selling properties and make 8 recommendations for improvement.REDA as the developers representatives yesterday again refuted point by point,but also refers to the new legislation has been selling properties on the one hand there is adequate supervision.Asked if the developers selling properties no longer have improving space,Chairman of The Real Estate Developers Association of Hong Kong Leung Chi Kin said that unless there are some areas in new legislation that we think we can improve,so that we can consult the discussion,the Council hopes to strengthen communication in the future . REDA held a meeting yesterday,mainly related to the Consumer Council report, most of the developers were present.Leung Chi Kin said that the Council's proposal to extend the cooling-off period,down 'forfeiture amount', in fact related issues have been discussed in the legislative stage and reach a consensus, the cooling-off period will be considered sufficient and if the 'confiscation of money' set too low, easy to 'messing cities' cause by the speculators.As for the alleged registration procedures have 'inflated,Leung Chi Kin believes the ticket number only reflects the attractiveness of real estate, developers do not consider it 'market manipulation'. Selling properties not in form of a little bit of the sale Has been criticized for selling properties in form of 'a little bit of the sale',Leung Chi Kin stressed that the developers have been fully comply with Regulation sold, there is no 'a little bit of the sale',refute 'squirt toothpaste',the argument is just media unilateral statements. He also refuted with high-pressure selling properties, saying,the Council has gave a example that there are developers limited prospective buyers to decide whether to buy a unit within three minutes,Leung Chi Kin said that the developers have related about the incident,mainly because the project involves the URA Council has committed to the rights of the original owners picking floor front of the building for three weeks has been told to sell the original owners of the property prices and payment methods,it is believed that it's only individual cases,to emphasize that not all developers have limited time to buy property to prospective buyers,while waiting to pick unit in fact there are quite enough time for prospective buyers to make a decision. Hoping Consumer Council can be balanced the trading interests There has not been prosecuted after the implementation of the new legislation, Leung Chi Kin said 'Not there are legislation,we need to catch your mistakes, but it kind of system to prevent it happen.'He said,because the new legislation involving criminal,the developers are quite nervous whether committed legislation.To The Real Estate Developers Association admit to the Consumer Council alone that the sale brochure which mentioned in the report was too heavy,,Leung Chi Kin said it the sale broche content wa unreal,it'll be seem as criminal ,so that the developers was quite seriously on the sale brochure,but there are many prospective buyers will not take away the sale broche,so that it will become not only a waste of environmental protection, this area is worth a review. Leung Chi Kin also said that The Real Estate Developers Association of Hong Kong orginal intend to to review within some time after the implementation of new legislation,Consumer Council suddenly released a report that has not have prior consultation from the developers,so also stressed that the developers was only stakeholders of the property sales,but also belong to consumers, the future will take the initiative to contact the Council,hoping to enhance communication between Consumer Council and The Real Estate Developers Association of Hong Kong. In addition,Eden Gate in Kowloon Tong which developed by Chinachem Group offer 47 units,suddenly take away the second price list with 3 units a few days ago,pointed out that there is that is not consistent with the rule under new legislation,the remaining 17 new units should be fully launched,but yesterday suddenly re-upload price lists.Sales of First-hand Residential Properties Authority replied last night that they will follow up the case,if there would be an suspected offenses,they will have investigation.
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