
A new rule forcing property agents to reveal the saleable floor area of flats on the secondary market is leaving home seekers and sellers confused - despite them appreciating the extra information.
"The new requirement is good because you can have a better estimate of how big a flat will be, as developers may have inflated their products, which may have a very low efficiency rate," homeowner Max Wong, 50, said.
"But I need some time to get familiar with the new system."
To make the residential market fairer, the Estate Agents Authority now requires property agents to state, and give at least equal prominence to, the saleable area, as well as displaying the gross floor area on all promotional materials.
The saleable area is the actual size of a home, including balconies. Gross floor area includes the saleable area plus a share of the common areas, bay windows and facilities.
While the saleable area gives property buyers a more accurate idea of a property, many buyers and renters are struggling to adapt to taking the new figure into account.
Wong said: "I know the average price of flats in terms of gross floor area at the housing estate I am living in, but not in terms of saleable area.