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The Lands Department issued six pre-sale consents for residential developments (including one pre-sale consent to replace another one issued in the third quarter of 2012 for the same development in Tseung Kwan O) and two pre-sale consents for commercial developments in the fourth quarter of 2012.
The five pre-sale consents for residential developments (excluding the one to replace an earlier pre-sale consent mentioned above) involved a total of 2,231 uncompleted units. Three developments in Yau Tong, Lai Chi Kok Road in Kowloon and Yuen Long, comprising a total of 1,190 units, are estimated to be completed in 2013. Another development at Argyle Street in Kowloon, comprising 53 units, is estimated to be completed in 2014. The remaining development in Tsing Yi (being a subsidised housing development), comprising 988 units, is estimated to be completed in 2015.
As at the end of December 2012, 23 applications for pre-sale consent for uncompleted residential developments and five applications for pre-sale consent for uncompleted commercial developments were being processed.
The 23 applications in respect of uncompleted residential developments being processed involved a total of 12,009 units, broken down as follows.
No. of Years in which No. of residential
applications developments units involved
are estimated
to be completed
6 2013 2,231
16 2014 9,737
1 2015 41
In addition, three applications for consent to assign involving a total of 1,284 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 past quarter, and cases pending approval as at the end of December 2012, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or by visiting the Lands Department's 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 advertisements, sales brochures and price lists released by the developer, before making a deposit for a purchase. The sales brochure for a development provided in both English and Chinese also contains the main points of the Deed of Mutual Covenant, including information on common parts, undivided shares, terms of appointment of manager, principle/basis of fixing management fee, apportionment of management expenses, management fee deposit, retained areas (if any) and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.
Ends/Monday, January 7, 2013
Issued at HKT 17:26
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