Regulating Information Asymmetry in the Residential Real Estate Market: The Hong Kong Experience (Routledge Studies in International Real Estate)

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Synopsis
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.
Copyright:
2017

Book Details

Book Quality:
Publisher Quality
Book Size:
280 Pages
ISBN-13:
9781315315386
Related ISBNs:
9781315315409, 9781138231399, 9780367736101
Publisher:
CRC Press
Date of Addition:
Copyrighted By:
selection and editorial matter, Emiliana Armano, Arianna Bove and Annalisa Murgia
Adult content:
No
Language:
English
Has Image Descriptions:
No
Categories:
Nonfiction, Business and Finance, Technology, Law, Legal Issues and Ethics
Submitted By:
Bookshare Staff
Usage Restrictions:
This is a copyrighted book.

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