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The Lands Department issued 13 pre-sale consents for residential developments and one pre-sale consent for commercial development in the fourth quarter of 2014.
The 13 pre-sale consents for residential developments involved 2,761 uncompleted residential units. Three developments in Ma Tau Kok and Sham Shui Po, comprising a total of 389 residential units, are expected to be completed in 2015. Nine developments or phases in various developments on the Peak, in Ma Tau Kok, Kowloon Tong, Hung Hom, Tsuen Wan and Tung Chung, comprising a total of 2,046 residential units, are expected to be completed in 2016. The remaining development in Tseung Kwan O, comprising 326 residential units, is expected to be completed in 2017.
The department also issued two consents to assign for residential developments in the fourth quarter of 2014. The two consents involved a total of 1,044 units in two developments in Wan Chai and Sha Tin respectively.
As at the end of December 2014, 20 applications for pre-sale consent for residential developments and 10 applications for pre-sale consent for commercial developments were being processed.
The 20 applications in respect of residential developments being processed involved a total of 5,905 units. Details are set out as follows:
No. of Year in which No. of residential
applications developments are units involved
expected to be
completed
5 2015 256
13 2016 4,954
2 2017 695
In addition, one application for consent to assign involving 1,071 residential units was 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 December 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 study carefully 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 also contains a summary of the provisions of the Deed of Mutual Covenant, including information on common parts, the number of undivided shares assigned to each unit, the term of years for which the manager is appointed, the basis on which the management expenses are shared among the owners of the units, the basis on which the management fee deposit is fixed 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/Wednesday, January 7, 2015
Issued at HKT 17:00
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