Property News · April 4, 2019

Hong Kong developers promise to sell 20 per cent of flats in housing projects on open market as government condemns ‘unfair’ tender process


The industry body for Hong Kong’s property developers said its members would from now on ensure that 20 per cent of flats in a new project are sold on the open market, as the government warned it could take action against those that sell through tender.Lawmakers have slammed developers for the increasingly widespread and “unfair” practice of selling new flats through tender, a marketing tactic they claim puts the buyer at a disadvantage. And they were quick to criticise Thursday’s decision by…

Source : South China Morning Post
Read more…Hong Kong developers promise to sell 20 per cent of flats in housing projects on open market as government condemns ‘unfair’ tender process

You may also like...