Last year's "Policy Address" proposed a study on lowering the threshold for forced auctions. Earlier this year, the Institute of Surveyors set up a working group to conduct the study and released a progress report today (25th).
The preliminary results of the study show that stakeholders such as affected owners and real estate developers support lowering the foreclosure threshold to speed up the reconstruction of old buildings, but at the same time protect the interests of the affected owners. However, the public and the affected owners do not understand the forced auction regulations. Mistakenly believe that the ordinance focuses on the interests of developers, which is not conducive to the development of the forced auction ordinance.
The Institute of Surveyors released a new version of the "Overview of the Foreclosure Ordinance" today, hoping to deepen the public's understanding of the ordinance, and will consolidate the findings of the working group into a submission, which is expected to be submitted to the Development Bureau in late June.
(Photo by Lin Yingxian)
The Institute of Surveyors stated that in the "Policy Address" proposed to lower the foreclosure threshold, the Institute immediately set up a working group in January this year to review the foreclosure reduction ordinance and consult relevant stakeholders, including the Elderly Home Association, which will assist affected owners, Real Estate Construction Chamber of Commerce, etc., and conducted various investigations on this.
The study found that stakeholders supported lowering the threshold for forced auctions to speed up the pace of redevelopment of old buildings, but they believed that the interests of the affected owners should be protected at the same time.
The investigation also found that the average time from the application to the issuance of a forced auction order in the past two years was nearly two years, and the longest case took nearly three and a half years. China also faced difficulties, such as the advance of litigation costs and the hurried delivery time after a forced auction.
The working group believes that the amendments to lower the threshold for forced auctions are still based on seven basic principles, including:
1. The interests of small property owners and large property owners must be balanced, and should not hinder land consolidation or forced auction applications
2. It should be ensured that small owners can have fair and reasonable compensation and obtain appropriate protection
3. It should not degrade the living environment of the affected owners or make them homeless
4. It should be considered that some small owners intend to sell their old flats, and a strong auction can improve their living quality
5. The regulations must be clear to avoid legal disputes affecting the progress of forced auction applications
6. Comprehensive development and site integration should be promoted to increase the scale of urban renewal
7. Provide appropriate commercial incentives for redevelopment to expedite urban renewal
The Institute of Surveyors released a new version of the "Overview of the Foreclosure Ordinance" today, hoping to deepen the public's understanding of the ordinance, and will consolidate the findings of the working group into a submission, which is expected to be submitted to the Development Bureau in late June.
Buildings frequently appear vertical transmission surveyors remind regular inspections of pipes, urge the government to support the Sanwu Building Surveyors Institute, urge the government to find land for nano buildings, and limit the proportion of the smallest units to 280 feet. Xiao Huang Wai Lun said that at the end of March, he will simplify the development process and submit it to the Legislative Council for an account at the end of the year. Intention to lower the threshold for strong auctions