Government latest land sale plan includes Shek Mun and URA sites

The government's land sale plan in the latest quarter includes a residential site in Shek Mun and Urban Renewal Authority and private development sites providing up to 3,845 flats.

This as the accumulated land supply over the course of the first three quarters of this year already exceeded the annual target, but some surveyors noting it will not have a major impact on property prices.

Addressing the details of the land sale plan this afternoon, Secretary for Development Bernadette Linn said the plot of land for sale in Shek Mun is located between Tai Chung Kiu Road and On Sum Street, and is estimated to provide some 960 flats.

The site, located near Shek Mun MTR Station, will also have a public parking lot built next to it.

Another project set for sale under the Urban Renewal Authority is located on To Kwa Wan, which will offer around 1,050 units.

As for private development sites, seven sites are expected to have their lease modifications completed in the latest quarter, offering up to 1,835 flats.

Authorities said some 15,680 flats have been made available in just the first three quarters of this year, exceeding the total annual supply target of 12,600.

The secretary for development stressed government-facilitated projects, no matter the location, will always take the administration's policies into concern.

She added that the market this year has been on a positive trend, with land developers maintaining a hopeful attitude.

This as some in the surveyor sector noted the decent locations of this quarter's land sales, while calling inflation the main driving factor behind rising property prices.