The following statement is issued in response to press enquiries today.
Having just today learned of the Consumer Council’s report on the “Study on the Sales of First-hand Residential Properties”, REDA has not had sufficient opportunity to study the contents in detail in order to form an opinion.
We are, however, bemused that the Council has seen fit to publicly release a report that is critical of a law that it itself was party to in the drafting process, and seemingly without prior consultation with any of its fellow stakeholders.
For our part, REDA’s members have complied with the Residential Properties (First-hand Sales) Ordinance since it came into operation in April 2013.