Legislation should be enacted regulating the advertisement of houses in new developments.
This should specify the number of houses offered for sale at each price level and the period for which this price is fixed.
It should provide for a criminal penalties for failing to provide the required information or comply with the advertisement.
Legislation should also be enacted requiring that a receipt be issued on payment of a booking deposit.
This should state clearly that it is a deposit and does not create a contract.
The receipt should state the amount paid, the name of the person paying it and of the person receiving it, and the property to which it referred.
It should also state that the deposit is refundable in full if the parties do not enter into any contract.
It should state that the purchaser should not be entitled to any reimbursement of expenses if the parties failed to enter into a contract.
Legislation should also be enacted to prevent the taking of booking deposits of more than 0.5 per cent of the purchase price, and providing for its refunding in full if the parties do not proceed to a contract.