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The Lands Department issued three pre-sale consents for residential developments and one pre-sale consent for commercial development in the first quarter of 2014.
According to the latest quarterly report, the three pre-sale consents for residential developments involved a total of 3,440 uncompleted residential units. Two developments in Tseung Kwan O and Tuen Mun, comprising a total of 1,723 residential units, were estimated to be completed in 2014. The remaining development in Tsuen Wan, comprising 1,717 residential units, was estimated to be completed in 2015.
As at the end of March 2014, 21 applications for pre-sale consent for residential developments and six applications for pre-sale consent for commercial developments were being processed.
The 21 applications in respect of residential developments being processed involved a total of 5,116 units. Details are set out as follows:
Year in which
developments are
No. of estimated to be No. of residential
applications completed units involved
2 2014 143
11 2015 2,556
8 2016 2,417
In addition, two applications for consent to assign involving a total of 1,173 residential units were being processed.
Members of the public can obtain up-to-date information on pre-sale consents for residential developments issued for the past quarter, and cases pending approval as at the end of March 2014, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or 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 a summary of the provisions of the Deed of Mutual Covenant, including information on common parts, undivided shares, terms of appointment of the manager, principle/basis of fixing the management fee, apportionment of management expenses, the management fee deposit and retained areas (if any), as well as a summary of the provisions of the government land grant, which intending purchasers are recommended to read carefully.
Ends/Friday, April 4, 2014
Issued at HKT 17:03
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