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The Lands Department today (March 4) announced that it had issued three pre-sale consents for residential units in February.
The three pre-sale consents involved a total of 139 residential units in various districts in Hong Kong. One development in Tai Po and one in Tsing Lung Tau comprising a total of 83 units are estimated to be completed this year. One development in Tung Chung involving 56 units is estimated to be completed in 2011.
As at the end of February, 13 applications for pre-sale consent for uncompleted residential units and one application for pre-sale consent for an uncompleted commercial development were pending approval.
The 13 applications for pre-sale consent for uncompleted residential units being processed involved a total of 6,422 units. Among them, five developments involving a total of 1,226 units are estimated to be completed this year, while six applications involving a total of 5,082 units are estimated to be completed in 2011. For the remaining two developments involving a total of 114 units, the estimated completion dates are to be updated by the developers.
In addition, one application for consent to assign involving 1,688 residential units 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 February, 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/Thursday, March 4, 2010
Issued at HKT 17:00
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