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The Lands Department today (October 7) announced that it had issued five pre-sale consents to sell units in uncompleted developments in the third quarter of 2009, of which four consents were for the sale of residential units and one for the sale of a commercial development.
The four pre-sale consents for residential developments involved a total of 2,456 uncompleted units located in various districts of Hong Kong. One development in Sha Tin and one in Tuen Mun, comprising a total of 45 units, are estimated to be completed in 2009. One development in Tseung Kwan O and one in Ngau Chi Wan, comprising a total of 2,411 units, are estimated to be completed from June to December 2010.
As at the end of September 2009, 17 applications for pre-sale consent for uncompleted residential units and four applications for pre-sale consent for uncompleted commercial developments are being processed.
The 17 applications for pre-sale consent for uncompleted residential units being processed involve a total of 9,965 units. Among them, three developments involving a total of 193 units are estimated to be completed in 2009, 10 developments involving a total of 5,470 units are estimated to be completed in 2010, and four developments involving a total of 4,302 units in 2011.
In addition, one application for consent to assign for completed commercial development is 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 September 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 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/Wednesday, October 7, 2009
Issued at HKT 17:00
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