The property market peaked last year and fell, and developers ’desire to pay more land has also greatly diminished
According to the quarterly land premium income announced by the Lands Department, it was only about 15.8 billion yuan last year, a year-on-year decrease of nearly 40%. The latest is that Nanfeng Development completed the end of last year’s price premium of its luxury home in Saigon, involving about 581.2 million yuan.
The Lands Department announced yesterday that in the fourth quarter of last year, a total of 8 contract amendments and 2 land exchange cases were registered with the Land Registry, 4 of which were technical contract amendments that did not involve the amount of land premium. The total land value income from the above-mentioned land transaction is approximately 5861.4 million yuan.
Nanfeng Saigon farmland premium exceeds 580 million
Among them, a group of farmland in the south of Saigon held by Nanfeng Development or related parties completed the land exchange agreement with the government at the end of November last year, and the land premium involved accounted for 581.91 million yuan. The site has a total site area of approximately 149.25 million square feet and is located near the roundabout of Sai Kung Highway, adjacent to the Royal Garden, and is a residential (type C) use. According to its outline zoning plan, the development plot ratio here is 0.75 times. If it is developed at a site coverage rate of 37.5%, a three-storey (9-meter) residential property including a one-storey parking garage can be built, or if With a site coverage rate of 25%, a 4-storey (12-meter) residential property with a 1-story parking garage can be built.
According to the Buildings Department’s information, Nanfeng or related parties have approved a building plan for the relevant land as early as March 2016. 56 three-story high-rise houses will be built on the first-floor parking lot. And 4 three-storey residential buildings with a total floor area of about 100,000 square feet, and another 1-storey residential club.
Last quarter’s land replenishment recorded a 13-quarter low
According to the information released by the Department in the past, the land premium income in the fourth quarter of last year was about 581.2 million yuan, which was about 3.822 billion yuan in the third quarter of last year, a quarterly decrease of nearly 85%, which was 13 since the third quarter of 2016. New quarterly low. As for the revenue of land premium last year, it was only about 15.843 billion yuan, which was a significant decline of 39.4% compared with about 26.147 billion yuan in the previous year; it was a three-year low after 2016. The land premium income in 2017 and 2016 was approximately 39.903 billion yuan and 11.941 billion yuan, respectively. Last year’s major land premium projects included Yuen Long Shek Wu Wai, SHKP (00016) and others, Tung Yuen Street, Cheung Kong (01113), and Tseung Kwan O Sunrise Cannes Phase 11 won by Xinzhi (00083) .
In addition, the Department announced that in the fourth quarter of last year, the Hong Kong Housing Authority was granted private land for the development of public housing on three sites in Chai Wan, Tsing Yi and Sha Tin.