Land sales | South China Morning Post
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  • Apr 1, 2015
  • Updated: 2:23am

Land sales

Developers’ caution in buying land could threaten local government finances

Even China Overseas Land & Investment, the country’s biggest listed developer by market cap, is turning cautious. Photo: Peggy Sito

"Caution" is a word commonly used by mainland developers when talking about their land acquisition plans this year. That bodes ill for some local governments that are under pressure to refinance.

Wednesday, 2 April, 2014, 2:50am

Rezoning delays could thwart government’s plans to boost land supply

A large crowd protests against plans to rezone a site at Baptist University for housing. Photo: Sam Tsang

The government has released 34 sites, enough for the building of 15,500 flats, in the upcoming programme. Twenty-one of the sites have not been rezoned for residential use.

12 Mar 2014 - 6:12am 2 comments

Record land sales revenues leave local governments worried about further property curbs

The influx of people into Beijing creates an annual demand of 120,000 homes, CBRE estimates. Photo: Reuters

Record revenues from land sales last year were a mixed blessing for heavily indebted local governments on the mainland.

They worry the central government will be provoked to launch a fresh round of curbs to prevent overheating of the property market.

10 Jan 2014 - 4:02pm

Uncertain outlook drags on luxury flat site price

This site at Kau To, Sha Tin, currently up for tender, could have its value affected by the low price paid for another plot of land yesterday. Photo: Nora Tam

Wheelock Properties outbid 11 developers to win the 83,033 square foot site for HK$3.83 billion, or HK$9,875 per square foot. Surveyors had estimated it would fetch between HK$3.8 billion and HK$4.38 billion.

15 Jun 2013 - 3:29am 3 comments

Large Guangzhou site sells for record price

A large residential site in Guangzhou sold for a record 4.56 billion yuan (HK$5.73 billion) at a government auction last week, underscoring optimism about the housing market in first-tier cities over the next several years.

12 Jun 2013 - 4:07am

Luxury site attracts developers

Residential plot in Ho Man Tin (right) receives 13 bids while commercial land in Ma On Shan gets eight.

Developers have shown keen interest in a luxury residential site in Ho Man Tin, with its tender attracting 13 bids. A commercial site in Ma On Shan, however, received just eight bids, said a spokesman for the Lands Department.

8 Jun 2013 - 4:03am

'Land kings' re-emerge in Chinese buying spree

Prospective buyers inspect a model of a development at an exhibition in Beijing. Photo: Xinhua

"Land kings" refers to a term for land transactions at record prices. Bigger and smaller players are entering the fray, added Alan Jin, an analyst at Mizuho Securities.

5 Jun 2013 - 4:40am

Two home sites to go out for tender

Tseung Kwan O

The government will put two residential land sites - one in Tseung Kwan O and another on Lantau Island - up for sale next month in a tender that is expected to fetch a total of up to HK$4.14 billion.

25 Apr 2013 - 6:15am

Sun Hung Kai pays more than expected for luxury site; Cheung Kong cuts prices

Sun Hung Kai Properties won a HK$4.14 billion auction for a residential and a hotel site on Wednesday. Photo: Felix Wong

Sun Hung Kai Properties won a luxury residential site at Kau To Shan in Sha Tin, paying a higher-than-expected HK$1.42 billion. It's a sign the appetite of big developers for high-end sites has not been curbed by the government's market-cooling measures.

28 Mar 2013 - 4:27am

Surveyors lower valuation on Sha Tin residential site amid cooling measures

A view of the site near the North Point Ferry Pier that has been opened for tender. Surveyors remain positive on bidding competition for the future hotel site. Photo: David Wong

The government released the residential site in Sha Tin's Kau To Shan and a hotel site in the former North Point Estate on the harbour front in front of Java Road Municipal Services Building for tender in January. The tender period closes on Friday.

20 Mar 2013 - 5:22am

Kerry win shows low prices being offered for sites

The site was sold to Kerry Properties for HK$11.69 billion.

Kerry Properties has won a Ho Man Tin luxury residential site with a market-expected price of HK$11.69 billion, but the price is 18 per cent less than a neighbouring site sold for nearly three years ago.

14 Mar 2013 - 6:41am

Wen Jiabao's land pledge to farmers up to next cabinet to implement

Wen said the State Council under his leadership "did a great deal of preparatory work" on improving the compensation scheme for requisitioned rural land. Photo: Simon Song

Legislation meant to lift farmers' share of profits from land sales, which outgoing Premier Wen Jiabao vowed to introduce before the end of his term, has been left in the hands of the next cabinet.

6 Mar 2013 - 6:24am

Cooling measures not seen as affecting prices for development sites

This site at the junction of Sheung Lok Street and Sheung Shing Street in Ho Man Tin, Kowloon, is one of the few prime central sites available to homebuilders. Photo: Nora Tam

Their valuations have not been affected by the doubling of stamp duties on properties worth HK$2 million or more, and tighter conditions for lending, announced on February 22 nor the scrapping last week of the land application list system.

6 Mar 2013 - 4:40am

Hong Kong needs to speed up land supply mechanism

Secretary for Development Paul Chan Mo-po announced that the 14-year-old land sale system would be replaced by regular tender. Photo: Sam Tsang

When it comes to market intervention, the less the better. In Hong Kong, the formula has been tried and tested and contributes to our success in being named the world's freest economy for many years. However, when market forces fail, the government is expected to step in. The series of measures introduced by the government to stabilise the red-hot property market is a case in point.

4 Mar 2013 - 3:27am 2 comments

Property Digest, February 27, 2013

Land sales in Beijing amounted to 12.7 billion yuan from the sales of 15 development sites so far this month as developers turned aggressive in their land replenishment, according to a data from Centaline China. 

27 Feb 2013 - 5:04am