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The Lands Department today (April 6) announced that it had issued seven pre-sale consents and one consent to assign for residential units in uncompleted developments in the first quarter of 2009.
The seven pre-sale consents for residential developments involved a total of 2,876 uncompleted units located in various districts of Hong Kong. Five developments in Yuen Long, Tai Kok Tsui, Sai Ying Pun, Conduit Road and Sheung Shui comprising a total of 1,136 units are estimated to be completed from August to December 2009. Two developments in Yuen Long comprising a total of 1,740 units are estimated to be completed from August to September 2010. The consent to assign involved 825 residential units in Tsim Sha Tsui.
As at the end of March 2009, 21 applications for pre-sale consent for uncompleted residential units and six applications for pre-sale consent for uncompleted commercial developments are being processed.
The 21 applications for pre-sale consent for uncompleted residential developments being processed involved a total of 8,229 units. Among them, seven developments involving 690 units are estimated to be completed in 2009, 13 developments involving 7,209 units are estimated to be completed in 2010, and one development involving 330 units is estimated to be completed in 2011.
In addition, two applications for consent to assign involving a total of 2,596 completed residential units are being processed.
Members of the public can obtain up-to-date information on pre-sale consents for uncompleted residential developments issued for the last six months and cases pending approval as at the end of March 2009 by calling Legal Advisory and Conveyancing Office's hotline No 2147 5475 or on the Lands Department website (www.landsd.gov.hk).
Intending purchasers are advised to carefully study details of the development and the sale procedures, through information available from public advertisement, sales brochure and price lists released by the developer before making a deposit for a purchase. The sales brochure for a development (normally including a Chinese version) also contains the main points of the Deed of Mutual Covenant, including the definition of common areas, terms of appointment of manager, the basis of calculating management fees, amounts of any deposits and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.
Intending purchasers should also note that developers may hold sales of units by private sale direct with purchasers, for which, under the Consent Scheme, price lists are not required to be produced.
Ends/Monday, April 6, 2009
Issued at HKT 17:00
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