The Real Estate Developers Association will enhance the transaction transparency of uncompleted first-hand residential properties and the clarity of property information.

Under a new arrangement with the Government, developers will make public in their websites and sales offices these flat transactions within five working days after signing the Preliminary Agreements for Sale & Purchase.

Presently developers register a duly signed agreement for sale and purchase of uncompleted first-hand residential properties in the Land Registry within one month from the signing of the sale and purchase preliminary agreements. There is therefore normally a lead time of about one month before the record of the transactions will be available for public inspection.

The association also agreed to show the price per square foot or metre in saleable area of individual flats on the price lists and provide floor-numbering information in a more prominent and clear manner in the Basic Information of the Development section at the front of the sales brochure.

The new measures will come into effect by the end of the month. Real estate agents will be required to provide comprehensive information about the flat saleable area and its price to potential buyers.

The Buildings Department will revise the practice notes concerning floor numbering to prevent unreasonable 'skipping' of floors. Legislative control will be considered if developers fail to follow.

The Government is actively considering stopping the current practice of giving developers extra floor areas as incentive to build environmentally friendly flats, as it has led to the problem of 'inflated' buildings. It may also consider introducing laws requiring developers to add green features in their buildings.

A group under the Council for Sustainable Development will make recommendations to the Government in the first half of next year.