Implementation of Residential Properties (First-hand Sales) Ordinance to affect primary launch
The Residential Properties (First-hand Sales) Ordinance (the Ordinance), which aims to shield buyers from dishonest sales practices, came into full effect on 29 April 2013. The Ordinance mainly applies to first-hand residential properties and sets out detailed requirements in seven main areas, including sales brochures, price lists, show flats, disclosure of transaction information, advertisements, sales arrangements, and the mandatory provisions for the Preliminary Agreement for Sale and Purch