Licensing of agents reaches all-time high

PUBLISHED : Friday, 25 February, 2011, 12:00am
UPDATED : Friday, 25 February, 2011, 12:00am

In a reflection of the strength of the property market, the Estate Agents Authority says the number of licensed property agents in Hong Kong has reached a record high of 31,586, up about 15 per cent from 28,000 two years ago. The authority is assessing whether there is a need to increase the licence fee. It received six complaints in connection with problems at The Icon at Mid-levels, although three have been withdrawn. The authority says its work will focus on the mutual recognition of qualifications by Hong Kong and mainland agents. It will study whether an annual quota of 300 is enough to satisfy demand.