The Consent Scheme in Hong Kong its evolution and evaluation : home buyer behaviour in Housing Society's property transactions before and after the Asian financial crisis
Abstract of thesis entitled
?he Consent Scheme in Hong Kong:
Its Evolution and Evaluation ?Home Buyer Behaviour in Housing Society?
Property Transactions Before and After
the Asian Financial Crisis?Submitted by
Fan Chi Sun
for the degree of Doctor of Philosophy
at The University of Hong Kong
in September 2005
In Hong Kong, the drafting of the Consent Scheme for development by private developers and that for the Housing Society, a quasi-government developer, are, in practice, identical.
Therefore, the protection for buyers of presale properties should be identical for both types of development. Hence, a hypothesis should be ?here is no major difference in consumer protection under the Consent Scheme for developers and that for the Housing Society?
However, since the Asian Financial Crisis (AFC) of October 1997, the Housing Society seems to have received more complaints against matters covered by the Consent Scheme, most of which have been handled extra-judicially.
This thesis (a) describes the evolution of the Consent Scheme; (b) describes nature of the Housing Society; (c) explains the problems confronting Housing Society vis-?vis sale flats buyers; and (d) applies Albert O. Hirschman? ?xit and voice model?to explain the phenomenon of massive complaints against Housing Society sale flats by evaluating the aforesaid hypothesis The evaluation was conducted by (a) a full study of all relevant Court cases and a sample of Small Claim Tribunal cases involving Consent Scheme; and (b) a full study of the complaints arising from all Housing Society projects completed
immediately before and after the AFC (i.e., during the period 1996-1998).
The conclusion is that the behaviour of the Housing Society? consumers is shaped by (a) the comparative advantage for buyer in using the voice option; and (b) the nature of the governance of the Housing Society as a ?on-profit?organisation.
School:The University of Hong Kong
School Location:China - Hong Kong SAR
Source Type:Master's Thesis
Keywords:hong kong housing society home ownership scheme house buying china selling consumer protection
Date of Publication:01/01/2005