Property News · April 3, 2019

Hong Kong developers should offer cheap new flats on open market instead of going through opaque tender process, industry guild warns


Hong Kong’s property developers are being urged to offer cheap flats on the open market instead of selling through tender, an opaque marketing tactic that can lead to buyers being overcharged.The Real Estate Developers Association (REDA), which represents 800 members including most construction firms in Hong Kong, said it will host a meeting shortly to discuss the issue with its members. The move comes after the proportion of new flats being sold through a bidding process in the city almost…

Source : South China Morning Post
Read more…Hong Kong developers should offer cheap new flats on open market instead of going through opaque tender process, industry guild warns

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