- Reverse mortgage
- Public housing issues
- Maintenance and safety of property
- Redevelopment and acquisition of property
Redevelopment and acquisition of property
In Hong Kong, many buildings lack proper repairs and maintenance, and therefore have become old and dilapidated.
To tackle the problem of urban decay and better utilize our limited land resources, both the Government and property developers implement redevelopment schemes.
Redevelopment is usually carried out by the Urban Renewal Authority (URA) and property developers in the following three ways:
- private agreement with existing owners (applicable to the URA and property developers);
- land resumption under the Lands Resumption Ordinance (Caps. 124 of the Laws of Hong Kong) (applicable to the URA);
- compulsory sale under the Land (Compulsory Sale for Redevelopment) Ordinance (Cap. 545 of the Laws of Hong Kong)(applicable to property developers)