Pre-sale Consent Applications for Residential Properties reach 21-month high in June

Posted: Jul 7 2014Last Updated: Aug 29 2017
Ede Road, Kowloon Tong5 July 2014 - Developers are keen on preparing their properties for launch. Apple Daily reported that the Lands Department received 7 pre-sale consent applications with a total of 2,822 uncompleted residential units in June setting a 21-month record high. For the latest applications, the Fat Kwong Street project in Ho Man Tin which was bought by Sun Hung Kai Properties through land auction for HKD10.9 billion, is expected to be on the market by the end of this year. At the same time, Kerry Properties has just received pre-sale consent for its No. 1 & 3 Ede Road project in Kowloon Tong. The project is expected to be launched very soon.  
After receiving approximately 2,000 pre-sale consent applications in May, the Lands Department received a new batch of pre-sale consent applications involving 2,822 uncompleted residential units in June. About 60% of the newly received applications are from Sun Hung Kai Properties; Tung Chung Area 55A Residential project (will provide 1,406 residential units) and Fat Kwong Street and Chung Hau Street project (comprising 256 residential units) account for 1662 residential units in total.
Apple Daily concluded that over 7,600 uncompleted units were applied for pre-sale in the first half of 2014, which is already 10% higher than last year's total figure. The Lands Department received 6,937 applications in 2013 for the pre-sale consent of uncompleted residential units
Furthermore, the Lands Department issued pre-sale consent for  3 uncompleted residential units including No. 1 & 3 Ede Road in Kowloon Tong developed by Kerry Properties, No. 1 Ko Shan Road in Hung Hom owned by Wing Tai Properties and " Metro 6" in Hung Hom devloped by Hong Kong Ferry. Thomas Lam, General Manager of Henderson Land said that the selling price of " Metro 6" will be announced next week, the project is providing 95 units of approximate 400 sq. ft. each.
Photo credit: Wikimedia Commons, User:Bananasims

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