ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book discusses regulation on information asymmetry for better consumer protection in the context of sale of first-hand residential properties in Hong Kong. It is the very first book that provides a comprehensive analysis on the effectiveness of Hong Kong's leading transparency-oriented regulatory regime based on the Residential Properties (First-hand Sales) Ordinance. Any discussion on market transparency is almost inevitably accompanied with the discussion of a co-related concept: information asymmetry. The book discusses the internal and external dimensions of the property and fittings, finishes and appliances installed within; location and environmental features; in multi-storey developments, the information on the floor the apartment is on. In terms of the transaction, issues include: the date of completion and lease term of the development; salient points of the Deed of Mutual Covenants and Land Grant Conditions; the price of the property; sales arrangement and so on.
