• Consumers should refer to the latest version of sales brochures and price lists published by vendors for accurate information
• Such knowledge can help prospective buyers protect their rights, or detect potential misrepresentation by property agents

The risk Hongkongers face is high, especially when properties abroad are still under construction, or are yet to be completed
The EAA does not assist consumers with recovery of losses suffered from property transactions

• Property agents should never hastily assure clients on the terms of a loan but instead advise them to consult directly with banks or other professionals

• Customers should protect their interests by thoroughly reviewing their own financial situation and repayment ability to avoid forfeiting deposits

• They must exercise due care before releasing property information to the public and ensure that no misrepresentation is made, writes Ruby Hon, chief executive of the Estate Agents Authority

• Failure to do so can result in disciplinary action and fines

Property transactions in Hong Kong’s primary and secondary markets have been declining due to the coronavirus pandemic, and the prospect of a near-term revival is not promising.

The real estate market thrives on transparency and trust, and agents must not allow any personal interest to conflict with those of their clients.

• Buyers should carefully study the land search copy provided by the estate agent before entering into a sales agreement or paying a deposit, warns Ruby Hon of the Estate Agents Authority
• By understanding the key information about the relevant property, potential risk and loss can be better avoided
  A land search is an important document in a property transaction.

• Consumers must be aware that provisional property agreements are legally binding documents and disputes may easily arise, says Ruby Hon, chief executive of the Estate Agents Authority

• Failure to fill in the documents correctly can be costly, Hon warns

• Estate Agents Authority circular provides guidelines for licensed agents handling the sale of incomplete properties situated outside Hong Kong

• Consumers are advised to do their homework when purchasing non-local properties

• It is vitally important to check the principal tenancy agreement for any restriction against subletting, says Ruby Hon Yuen-ping, CEO of the Estate Agents Authority