15
WEDNESDAY, NOVEMBER 6, 1991
"I AM CONFIDENT THAT THE CONSUMER COUNCIL WILL HELP TO CREATE A MORE INFORMED PUBLIC IN THEIR DEALINGS WITH DEVELOPERS, ESTATE AGENTS, FINANCE HOUSES OR CORPORATE LANDLORDS, WHERE THE INDIVIDUAL IS OFTEN IN A WEAKER BARGAINING POSITION,
**
HE SAID.
HE ASSURED THAT THIS SHOULD IN TURN CONTRIBUTE TO A PROPERTY MARKET.
CONSUMER
HEALTHIER
MR GRAHAM OF
THE SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, BARNES, SAID NEW MEASURES WERE INTRODUCED TO PROTECT THE INTEREST GENUINE HOME BUYERS.
BUT
CONTROL PROPERTY
HE ADDED THAT THE GOVERNMENT WOULD NOT PRICES BECAUSE THAT WOULD BRING AN END TO THE PROPERTY MARKET.
ANY ATTEMPT TO INTERVENE IN THE PROPERTY MARKET SHOULD NOT LOSE SIGHT OF THE FACT THAT HONG KONG'S PROSPERITY WAS PRIMARILY FOUNDED ON OF THE A FREE MARKET ECONOMY WITH THE PROPERTY SECTOR A KEY ELEMENT ECONOMY.
HE SAID PROPERTY-RELATED ACTIVITIES CONSTITUTED 14 PER CENT THE GDP.
MR BARNES
OF
IMPROVING THE SAID THE NEW MEASURES WERE AIMED AT THE EXISTING ANTI-PROPERTY SPECULATION MEASURES INTRODUCED IN DECEMBER LAST YEAR AND AUGUST THIS YEAR. THEY INCLUDED:
EFFECTIVENESS OF
DISCLOSE INFORMATION
ON
ΤΟ
ALL INTERMEDIARY * REQUIREMENT
SALES OF EQUITABLE INTERESTS IN PROPERTY (FOR IMPLEMENTATION WITHIN THIS MONTH);
*
PROCEDURES TO REGULATE THE RE-SALE OF
PRIVATELY
UNCOMPLETED
FLATS (FOR
AS IMPLEMENTATION
ALLOCATED SOON AS
PRACTICABLE);
*
THE
(WITH
ALL DEPOSITS FOR THE PURCHASE OF UNCOMPLETED FLATS HAD TO BE MADE IN BANK DRAFTS AND NO CHEQUES WOULD BE ACCEPTED IMMEDIATE EFFECT).
POTENTIAL
BUYERS
BEING ONLY
HAD SELECT
BEEN
THE
ALSO REMINDED DEVELOPERS AND SECRETARY
WAS REQUIREMENT THAT THERE WOULD BE A RISK THAT BALLOTING CIRCUMVENTED BY PEOPLE SELLING THE SUCCESSFUL CHIPS TO OTHERS AS
NUMBER CARD PERSON WHOSE
AND IDENTITY SAME
NAME REGISTERED WITH THE DEVELOPMENT WOULD HAVE THE RIGHT TO FLAT AND TO CONCLUDE THE SALE AND PURCHASE AGREEMENT.
THE
ON
THE
MR BARNES SAID BY ESTATE AGENTS, PLAYED THE ROLE GOVERNMENT HAD RECENTLY RECEIVED THE CONSUMER COUNCIL'S REPORT AND HAD PUT IT BEFORE THE LAND AND BUILDINGS ADVISORY COMMITTEE.
THE COMMITTEE WERE OF THE VIEW THAT THE GOVERNMENT SHOULD AT ENHANCING
SELF-REGULATION PROFESSIONAL ETHICS THROUGH
AIM
AND,
IF
NECESSARY, LEGISLATION.
RESIDENTIAL PROPERTY
ON THE CONCERN THAT SPECULATION IN THE MARKET SHOULD NOT BE FUELLED BY TOO LIBERAL A LENDING POLICY OF BANKS,
OF THE SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK, SAID RESULTS A RECENT SURVEY CONDUCTED BY THE COMMISSIONER OF BANKING REVEALED THAT BANKS HAD TIGHTENED THEIR LENDING POLICIES.
/DESCRIBING THE