Secretary for Housing, Planning & Lands Michael Suen has called on developers to enhance their transparency in the internal sale of uncompleted flats. Mr Suen said the Government has discussed the issue with the Real Estate Developers Association and agreed to fine-tune the mechanism.

Responding to a report a penthouse unit had been sold for over $30,000 per square foot, which has caused a stir in the property market, Mr Suen said the Government asked the association to follow up the case.

The association said:

* the developer stated the buyer had not purchased any other flats in the same development, as had been reported in the media;

* the developer had, in compliance with the association's guidelines, provided potential buyers with pricelists for the flats available; and,

* the flats were put up for sale according to normal strategies in the property market, including granting modest discounts to individual buyers in bulk purchase.

Mr Suen said the Government attaches great importance to consumer protection in property purchase. It has been closely liaising with the Consumer Council, the association and the Estate Agents Authority to monitor the operation of the sale mechanism of uncompleted residential units and to seek appropriate improvements based on the experience gained in order to cater for the market and consumer needs.

The association reminds members to follow its guidelines, adding that new guidelines will be issued in light of consumer need or changes in the market situation.