Developers intended to launch out the properties on sale which have increased 2,822 units last month
Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok) Lands Department yesterday announced there are a total of seven new property applications for pre-sale consents involving 2,822 units in June,the number of units hit a 21-months high, while the first half of the new applications for pre-sale reached 7,666 units,rose one percent when compared with last year,reflecting the sentiment of launching out the new properties on sale by the developers is keep on rising.In addition, the number of units over the same period has also granted 1,400 units.It is worth mentioning that one of the approved property project which located in No.1 Ko Shan Road with the uncompleted period of up to 26 months,which is the second new property project which have benefit from the relaxation of 30 months of uncompleted period measures by the Government.
According to the Lands Department announced a new application project has five belong to the government land sales projects in recent years,which have reflected that the government has been actively launching out the lands on sale and has gradually emerged the uncompleted period from 20 months to 30 months,a number of large-scale properties were estimated to have launched earlier this year in order to meet the market demand.Insiders pointed out that the recent new properties sold well,but most of the deals with discounts by the developers,reflected a conservative view on the outlook of the property market, in order to avoid the risk of selling properties encountered turnaround,natural to accelerate the pace of launching the new properties on sale.
The land in Tung Chung Area 55A have the largest-scale which involved in 1,406 units
The five lands which sold by the government in recent years,the land with the largest scale was SHKP's land which located in Tung Chung Area 55A,involving the most units,are also up to provide 1,406 units,it is expected to be completed by the end of September 2016,followed,including K.Wah's land which located in TKO 66D1 Area (374 units),SHKP's land in Fat Kwong Street and Chung Hau Street project (256 units),Chinachem Group's land in No.38 Inverness Road,Kowloon Tong (134 units)and China Overseas Holdings Limited's land in Ap Lei Chau No. 8 (114 units).
The remaining two sites,one for the URA 'flat for flat items' Woon One Habitat (484 units),in addition,once pending withdrawal of more than four years after the One Kowloon, Tsuen Wan, Cheuk Nang Peak (54 units),last month also re-apply for pre-sale documents,the project is expected to be completed by the end of December next year.
The number of new applications for pre-sale in June hit a 21-months high. Midland chief analyst Lau Ka Fai further noted that the cumulative terms of the first half of year,a new application for a total of 7,666 uncompleted units,this figures have been about 10% higher than last year's 6,937 units.Surge in the number of units,it is excepted that due to the large-scale individual projects,also because of it is also very obvious that the developer's desire to launch out hte new properties on sale actively.
The proeprty project in Ko Shan Road with the uncompleted property period of up to 26 months
Meanwhile,there are five projects in June with totaling 1,400 uncompleted units have been approved for pre-sale,including two sites which first disclosed and granted the pre-sale consents respectively,of which the land was located in No.1 Ko Shan Road (173 units) which developed by Nan Fung and Wing Tai and another and was located in No.1 and 3 of Ede Road,Kowloon Tong (41 units) which developed by Kerry Properties.The former property project is a forward uncompleted project is expected to be completed in August 31, 2016,the uncompleted property period of up to 26 months, just apply the sales of paper in February this year,only three months then have been approved in a sudden,can be said to fully benefit from the government of relaxing the uncompleted property period measures.
As for the property project in Ede Road is expected to be completed by the end of this year.As for the remaining three new uncompleted properties which have been approved the pre-sale,are now on sale by the Sino-Land,Mayfair by the sea Phase I and II and the land in the junction of Gillies Avenue South and Bulkeley Street which developed by Hong Kong Ferry (Holdings) Co. Ltd. and will put up for sale soon.
There are over 9,000 units are waiting to be approved for pre-sale
Lau Ka Fai said net of the projects on the market,there are still about 3,126 units of uncompleted projects have been approved the pre-sale but not yet for sale yet.Although there are many units have been approved during the month,but due to the fact that there are more and more new units have applied for sale, making the cumulative pending pre-sale consents units to 9,412 in June,rose further by about 17.8% on a monthly basis and hit a 7-months high. If calculated with the above property projects which have been approved the pre-sale but not yet for sale yet,there are a total of 12,538 units.
