ABSTRACT
The price of the property is undoubtedly critical information. This chapter investigates the preparation and provision of price lists in first-hand sales: what kind of information needs to be included in the price lists and how should those lists be made available to the public. Regulation of the issuance of price lists in sales of residential properties constitutes a major part of the new legislation to tackle high pressure sales tactics and promote information disclosure and transaction transparency throughout the sale. To start with, the price information of properties on sale is contained in price lists. And a sale of first-hand residential properties requests the publication of one or more price lists. The scale of a multi-unit development in Hong Kong ranges from a dozen flats, to a hundred or a thousand apartments. Thus, general rule Ordinance stipulates that the vendor may sell a specified residential property only at price of that property as set out in relevant price list.
