2025-10-09 Squarefoot Editor
Members of the Legislative Council asked the Development Bureau for specific arrangements on the issue of land lease terms. The bureau said that from now until June 29, 2047, about 2,400 land leases will expire one after another, and the first batch of about 50 land leases will expire in 2025. The government will make recommendations in due course. to communicate. Considering the complexity of the renewal procedures, the Government is exploring streamlining the procedures. The bureau also emphasized that there has always been a mechanism to deal with the renewal of land leases that have expired. In terms of land administration, "2047 has never been a deadline."
Development board says 2047 is never a deadline
According to Article 123 of the Basic Law, land leases that expire after the establishment of the Hong Kong Special Administrative Region without the right to renew shall be dealt with by the Hong Kong Special Administrative Region through its own laws and policies. According to the policy statement announced by the SAR Government in July 1997, land leases without renewal rights (excluding short-term leases and special-purpose leases) can be renewed for 50 years at the sole discretion of the government upon expiry without payment of land premium. However, an annual rent equivalent to 3% of the rateable value of the relevant land is required.
The Secretary for Development, Wong Wai-lun, pointed out in a written reply that since the establishment of the SAR, the Lands Department has been handling the renewal of expired land leases in accordance with the above-mentioned policy. Expired contracts are renewed. In other words, 2047 has never been a deadline in land administration.
2,400 land deeds due in 2047
According to the current statistics, from now to June 29, 2047, the land leases of about 2,400 general commercial/residential/industrial lots (calculated by sub-lots) will expire one after another. The earliest batch involves about 50 lots. The land leases of the lots (calculated by sub-lots) will expire in 2025. Before that, the government will make recommendations and communicate with stakeholders in due course. As for the large number of land leases expiring on June 30, 2047, the Lands Department is continuing to collate relevant information. The relevant work is progressing well, and it is believed that it can be completed by the end of this year as scheduled.
Co-ownership renewal arrangements to be considered
According to the current arrangement, if the renewal of the land lease is approved, the Department will go through the necessary formalities and execute the relevant instruments with the owner in an appropriate manner. If the land is under single title or under joint title and all the owners agree on the renewal arrangement, the Lands Department will normally issue a land lease renewal document with all the owners.
It is worth mentioning that if the land is jointly owned and the owners are unable or difficult to agree on the renewal arrangement of the land lease (such as a residential building sold by sub-divided units), the Government will transfer the new land lease after the expiry of the existing land lease. The lease is granted to the Financial Secretary Incorporated, who then assigns the undivided shares of the individual properties to the registered owners of the properties concerned. This approach ensures that even if individual landlords do not agree or are unable to implement lease renewal arrangements,It will affect the rights and interests of owners who are willing to renew and complete the transfer procedures.
Considering that the procedures for the above-mentioned mechanism are relatively complicated (especially for lots with more co-ownership), the Government is exploring whether there are other suitable arrangements for renewing land leases in a more streamlined and convenient manner, including whether it can be The legislation, for approved renewal cases, reduces the formalities that the owner has to go through while ensuring the legal effect of the relevant contract.
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| Property Type | Price | Ads Period |
|---|---|---|
| For Sale Property | ||
Normal Listing Typical One | HKD:1000 (or Hsemoney:1000) | Valid:90 days |
Golden Top Listing Higher position than Top listing 2-3times better performance | HKD:3000 (or Hsemoney:3000) | Valid:60 days |
| Rental Property | ||
Normal Listing Typical One | HKD:1000 (or Hsemoney:1000) | Valid:80 days |
Golden Top Listing Higher position than Top listing 2-3times better performance | HKD:3000 (or Hsemoney:3000) | Valid:60 days |