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The Lands Department announced today (July 7) that it had issued 12 pre-sale consents to sell units in uncompleted developments in the second quarter of 2009, of which eight consents were for the sale of residential units and four for the sale of commercial units. Two consents to assign for residential units were also issued in the period.
The eight pre-sale consents for residential developments involved a total of 2,454 uncompleted units located in various districts of Hong Kong. Two developments in Kowloon and one in Tsuen Wan, comprising a total of 251 units, are estimated to be completed from October to December 2009. Four developments in Kowloon and one in Tsuen Wan, comprising a total of 2,203 units, are estimated to be completed from May to November 2010. The two consents to assign involved 500 residential units in Kowloon and 2,096 residential units in Tseung Kwan O.
As at the end of June 2009, 15 applications for pre-sale consent for uncompleted residential units and one application for pre-sale consent for uncompleted commercial development are being processed.
The 15 applications for pre-sale consent for uncompleted residential units being processed involve a total of 8,301 units. Among them, three developments involving 94 units are estimated to be completed in 2009, 10 developments involving 7,162 units are estimated to be completed in 2010, and two developments involving 1,045 units in 2011.
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 June 2009 by calling the Legal Advisory and Conveyancing Office's hotline (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 for 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/Tuesday, July 7, 2009
Issued at HKT 17:01
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