The Lands Department (LandsD) issued 12 pre-sale consents for residential developments and two pre-sale consents for non-residential developments in the fourth quarter of 2018.
The 12 pre-sale consents for 10 residential developments (of which three are phased developments) involve a total of 8 351 residential units. Two developments in Tsuen Wan and Yuen Long comprising a total of 214 residential units are expected to be completed in 2019. Three developments in Hung Hom, Tai Po and Tuen Mun and a phase each of two phased developments in Sham Shui Po and Yuen Long, comprising a total of 3 971 residential units, are expected to be completed in 2020. Two developments in Sha Tin and Tai Po and two phases of one phased development in Kwun Tong, comprising a total of 4 166 residential units, are expected to be completed in 2021.
The department also issued three consents to assign in the fourth quarter of 2018. The three consents to assign involve a total of 2 375 residential units and one commercial unit in three developments in Sham Shui Po, North Point and Tsuen Wan.
Taking into account the pre-sale consents issued in the first three quarters in 2018, the LandsD issued a total of 36 pre-sale consents for residential developments involving 21 722 residential units in 2018.
As at the end of December 2018, 23 applications for pre-sale consent for residential developments and one application for pre-sale consent for non-residential developments were being processed.
The 23 applications in respect of residential developments being processed involve a total of 10 058 residential units. Details are set out as follows:
| No. of applications | Year in which developments are expected to be completed | No. of residential units involved |
| 2 | 2019 | 58 |
| 7 | 2020 | 2 144 |
| 14 | 2021 | 7 856 |
In addition, an application for consent to assign involving five residential units was being processed.
Members of the public can obtain up-to-date information on consents issued for the past quarter and cases pending approval as at the end of December 2018 by visiting the LandsD's website (www.landsd.gov.hk).
Intending purchasers are advised to study carefully the details of the development and the sale procedures, through information available from public advertisements, and sales brochures and price lists released by the developer, before making a deposit for purchase. The sales brochure for a development also contains a summary of the provisions of the Deed of Mutual Covenant, including information on the 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 the 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.
Follow this news feed: East Asia