Hong Kong Housing Authority Welcomes Revised Guidelines on Uncompleted First-hand Residential Properties

Strategic Insights -

The Hong Kong Housing Authority has expressed its support for revised guidelines on sales brochures and promotional materials for uncompleted first-hand residential properties issued by the Real Estate Developers Association of Hong Kong (REDA). According to the guidelines, developers are now required to include only prescribed information about their developments in sales brochures, ensure that location plans meet specific size requirements, and provide more comprehensive information about nearby facilities. Additionally, printed promotional materials with "artist impression pictures" must carry a statement advising prospective buyers to refer to the sales brochures and conduct on-site visits.

Key Takeaways:

  • The Real Estate Developers Association of Hong Kong (REDA) has issued revised guidelines on sales brochures and promotional materials for uncompleted first-hand residential properties.
  • The guidelines require developers to include only prescribed information about their developments in sales brochures, ensure that location plans meet specific size requirements, and provide more comprehensive information about nearby facilities.
  • Printed promotional materials with "artist impression pictures" must carry a statement advising prospective buyers to refer to the sales brochures and conduct on-site visits.
  • The enhancement measures will be applicable to the sales brochures and promotional materials of uncompleted first-hand residential properties published on or after November 1.
  • The guidelines aim to enhance the clarity and accuracy of information in sales brochures and promotional materials, and facilitate prospective flat buyers in getting hold of the required information more easily and comprehensively.
  • The Transport and Housing Bureau will monitor the implementation of the enhancement measures together with REDA.

Statistics:

  • 4 enhancement measures have been introduced by REDA on sales brochures and promotional materials for uncompleted first-hand residential properties.
  • 1 November is the effective date for the applicability of the enhancement measures on sales brochures and promotional materials.

Sources:

  • Hong Kong Government Information Centre, http://www.info.gov.hk/gia/general/201010/07/P201010070072.htm
  • Real Estate Developers Association of Hong Kong,
  • Hong Kong Housing Authority, ditributed by Contify.com, http://www.housingauthority.gov.hk/en