RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

JLL predicts tiny flat supply will decrease amidst new land sale programme

No thanks to developers cautious in building tiny flats.

Hong Kong has released the 2017-18 Land Sale Programme, comprising 28 residential sites capable of providing nearly 19,000 flats. It includes three commercial/business sites and one hotel site which can provide 172,000 square metres of floor area and 550 rooms, according to the government information agency.

“There are 13 sites, including eight new sites in Kai Tak, which still need to go through the town planning procedure. Given that Kai Tak is a new development area and has higher flexibility in town planning, the eight sites in the district should be ready to release for sales by the end of the coming financial year,” said Cliff Tse, regional director of valuation department at JLL

“The large plots on the list have higher flexibility in planning and development, and we expect these kind of sites will attract strong interest from mainland developers.

He said many developers have become cautious about building tiny flats in order to maintain a good reputation and ensure the quality of new projects. He expects the supply of tiny flats will decrease. He suggested the government should hold a consultation on imposing minimum requirements on the sizes of the kitchen and bedrooms for residential properties.

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