Kai Tak No. 1 Qi Cheng units apply for rent

China Overseas (00688) developed Kowloon East Kai Tak “Hong Kong people Hong Kong Land" project Kai Tak 1 (divided into two phases of Kai Tak No. 1 (I) and (II), hereinafter referred to as Phase 1 and Phase 2) , Has been close to the market for nearly six months, and there have been a small number of cases of placing and placing leases. However, the latest information released by the Development Bureau shows that as of the end of February this year, the Lands Department had received 852 applications for consent to subletting or permitting the use of the housing estate, equivalent to about 72.9% of the total number of units in the two phases.

In September 2012, the government announced the policy of “Hong Kong people and Hong Kong”. The original intention was to give priority to Hong Kong permanent residents in the event of tight supply and demand of property, and within 30 years after the land sale regulations provided for the grant of land, small landlords sold or rented flats. All applications for consent must be made to the Lands Department. Kai Tak 1 was put on sale in September 2016. As of yesterday, about 1154 have been sold, equivalent to about 98.7% of the total number of units.

96 rent for 30 to 53 yuan

The latest documents submitted by the Development Bureau to the Legislative Council show that, as of the end of February, the Lands Department received a total of 852 applications for sub-letters or consent to use, of which about 817 applications have been approved and the number of approvals equals the total number of units. 70%, that is, for every 10 units of Kai Tak 1, 7 can be used for rental purposes.

Huang Yuxi, Hong Kong Real Estate Account Manager, said that in February of this year, the number of rents for the project was about 170, and there are now about 96 fashions, which have digested about 43.5%; the monthly rents range from 15,000 to 36,000 yuan, and the intention is to rent 30 yuan. Up to 53 yuan, the intention rent is the flat 2 D room in the first phase of the building, with 368 square meters of usable area, open space, and 40.8 yuan of rent.

The Lands Department statistics showed that there were also 749 applications for consent to sell, which accounted for about 64% of the total number of units. Of these, 721 cases had been approved. However, since all units have not passed the three-year period of the additional stamp duty (SSD), the placing limit has been extremely limited, and the sale and purchase transactions have only been recorded in a case of “earned earning".

721 households approved for resale

Wu Miaozhuang, senior regional sales manager of Centaline Real Estate, revealed that there are currently only 3 release plates for Kai Tak No. 1(1) and (11), asking for a price of 12.5 million to 19 million yuan. The admission unit is a two-storey low-rise F room in the first phase of the building. The actual area is 507 square feet, and the two rooms are separated by an intentional discount price of approximately RMB24,700.

On the other hand, in order to rationalize the development control work of the Buildings Department, Lands Department and Planning Department, the Development Bureau set up a steering group in the Planning and Lands Branch to study proposals for streamlining and improving the existing system, including requests for private development projects and increasing transparency. And certainty, and integration of the approval process between departments, including entrusting a department to handle specific tasks for other departments, etc., and the first batch of arrangements for streamlining approvals will be introduced in the second half of this year.