10 September 2014 - Developers have become more active in seeking out the approval of floor plan designs for their residential developments. Hong Kong Economic Journal reported that the Buildings Department received 239 building plan approval applications during the first seven months of the year, marking a 61.5% increase year-on-year.
In addition, the Authority approved 132 building plans during the first seven months of 2014. Both the number of applications and approvals broke a 3-year record high during the same period of time. Market insiders have indicated that developers are likely to have sped up floor plan approval applications as a result of the increasing land supply made available by the Government over the next few years.
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