Fewer complaints: Permanent Secretary for Housing, Planning & Lands Thomas Chan says marked improvements were seen in flast-sales arrangements in the past year.

There have been marked improvements in flat-sales arrangements since the Real Estate Developers Association issued a detailed set of guidelines a year ago, Permanent Secretary for Housing, Planning & Lands Thomas Chan says.

The bureau has received just seven complaints regarding first-hand transactions of private residential properties in the last year, he added.

Speaking at a press conference today, Mr Chan stressed the Government is committed to maintaining a monitoring mechanism for first-hand transactions of uncompleted private residential properties that has greater flexibility and can strike a balance between protecting consumers' interest and not impeding the property market's free operation.

Noting that consumers should think carefully before buying residential properties, Mr Chan said the Consumer Council and the Estate Agents Authority have jointly published a checklist, to be inserted in sales brochures, listing items first-hand residential property buyers should pay particular attention to.

He said if a developer is in breach of provisions prescribed in the Lands Department's consent scheme for sale of uncompleted residential units, the department could take enforcement action.

It may issue warnings and ask the developer concerned to correct the information. It may suspend or withdraw consent for sale and require the developer to allow buyers not to complete the agreement for sale and purchase. All money paid by would-be buyers would need to be refunded with interest.

'Sale' definition to be standardised

Referring to recent public concern about how developers release sales figures, Mr Chan said the developers' association will remind its members to release accurate information and to standardise the definition of "sale" to refer to the signing of a preliminary agreement for sale and purchase.