ENG-2000 — Page 250

HOUSING

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The Government held six land auctions and invited seven tenders. Twenty-one residential sites were sold successfully to the private sector in a fair and open manner. Prices fetched were above market expectations in most cases.

Mixed Development

Mixed development is a means to encourage further private sector involvement in the public housing programme. Under this approach, residential sites are offered for sale by tender, and the successful tenderer is required to hand over a specified proportion of flats within the development to the Government for sale to eligible low income. families at designated prices, while he retains the remaining proportion of flats for sale in the open market. Tenders were awarded in 2000 for two sites on a pilot basis, and the scheme was administered by the HKHS.

Consumer Protection

Following consultation with the trade and the public, the Estate Agents Authority (EAA), established on November 1, 1997, devised licensing arrangements and practice directions for estate agents. The Estate Agents (Licensing) Regulation was approved by the Legislative Council in November 1998, and became operational on January 1, 1999. All estate agents are now required to obtain a licence to practise.

The Estate Agents Practice (General Duties and Hong Kong Residential Properties) Regulation and the Estate Agents (Determination of Commission Disputes) Regulation were approved by the Legislative Council in June 1999, and took effect on November 1, 1999. The former stipulates rules relating to the conduct, duties and practice of licensed estate agents. The latter prescribes rules and procedures for the EAA to assist in the mediation of disputes between an agent and a client. The Estate Agents (Registration of Determination and Appeal) Regulation, which came into operation on March 1, 2000, prescribes the procedural rules for registering a determination and lodging an appeal.

The Government has completed extensive consultation with property developers and professional bodies on the proposed introduction of legislation to require property developers to provide sales brochures with clear and accurate descriptions of uncompleted residential properties put on sale, and to impose penalties for non- compliance. A Bill on Sales Descriptions of Uncompleted Residential Properties is being finalised.

Rent Control and Security of Tenure

Tenancy-related matters, including rent control and security of tenure, are governed by the Landlord and Tenant (Consolidation) Ordinance. The provisions on rent control expired on December 31, 1998 but transitional control continues until the expiry of current tenancies. All domestic tenancies including those previously subject to rent control enjoy security of tenure so long as the tenant is prepared to pay the prevailing market rent on expiry of the tenancy agreement.

Home Ownership

Promotion of Home Ownership

Owning one's home is an aspiration shared by many in the community. Promotion of home ownership helps to foster social stability and a sense of belonging. The Government will continue to provide a variety of subsidised home ownership schemes