Land premium hits HK$1.72 bn in Q1

Private land use modifications also declined.

According to Barclays, the Hong Kong Government’s efforts to speed up land supply have resulted in a decline in private land use modifications.

In the Q1 2014, there were only 20 cases of land use modification and land exchange, of which only seven cases involved the payment of a land premium.

Here's more from Barclays:

Of the HK$1.72bn total land premium paid in Q1, the largest was for the expansion of Tsing Yi Plaza.

Another more sizeable land premium was for the relaxation of height restriction for Henderson Land and Lai Sun’s Observatory Road commercial project in Tsim Sha Tsui.

The total land premium of HK$133.7mn works out to HK$809psf against the 165,200sf GFA for the site.