{"id":26524,"date":"2016-09-19T18:20:59","date_gmt":"2016-09-19T11:20:59","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-need-to-worry-hk-minister-tells-land-lessees\/"},"modified":"2016-09-19T18:29:56","modified_gmt":"2016-09-19T11:29:56","slug":"no-need-to-worry-hk-minister-tells-land-lessees","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-need-to-worry-hk-minister-tells-land-lessees\/","title":{"rendered":"No need to worry, HK minister tells land lessees"},"content":{"rendered":"


\nLeases are not the only things to worry about come 2047\u2026
\nProtesters occupy the road in Admiralty, Hong Kong in September 2014 at the height of the \u2018Umbrella Revolution.\u2019 coloursinmylife \/ Shutterstock.com
\nA government official has sought to allay developers\u2019 fears that leased lands granted by the British Hong Kong Government will not be recognized in 2047, when 50-year capitalist concessions under the Sino-British Declaration come to an end, the South China Morning Post reported.
\nWriting in his blog on Sunday, Secretary for Development Paul Chan Mo-po saw \u201cno need for people to frighten themselves.\u201d He referred anxious residents to Article 123 of the Basic Law, which authorises the Chinese SAR to renew leases \u201cin accordance with laws and policies formulated by the region on its own.\u201d
\n\u201cI especially would advise small property owners not to so easily believe rumours such as \u2018you will automatically lose your property rights after 2047\u2019 so as to avoid selling property based on such false information, and incurring losses,\u201d he stated.
\nMore: What Brexit? Hong Kong investors still favour London
\nChan\u2019s reassurances come almost a month after he told the the Post that \u201cpeople have no need to be afraid,\u201d considering that leases were extended even after their expiry in 1997 when the UK transferred sovereignty over Hong Kong to China.
\nOther government officials are concerned over whether the Chinese SAR will be able to retain democratic liberties. \u201cIt\u2019s not just land leases,\u201d lawmaker-elect Cheng Chung-tai on Sunday told the Post. \u201cWill our common law system, our Court of Final Appeal disappear over night? Will the one country two systems become \u2018one country, one system\u2019? These are the biggest considerations.\u201d
\nIn 2014, Hong Kong was rocked by a series of street protests, collectively known as the Umbrella Revolution, in defiance of the Beijing government\u2019s plans to vet nominees of the Hong Kong elections in 2017.
\nRead next: Billionaire developer flummoxed by Hong Kong land prices
\n
\nSource : property-report.com
\nRead more…No need to worry, HK minister tells land lessees<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Leases are not the only things to worry about come 2047\u2026 Protesters occupy the road...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26524","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6TO","jetpack-related-posts":[{"id":109680,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-needs-to-speed-up-the-land-lease-renewal-process-to-help-foster-calm-amid-countdown-to-2047\/","url_meta":{"origin":26524,"position":0},"title":"Hong Kong needs to speed up the land lease renewal process to help foster calm amid countdown to 2047","date":"August 6, 2019","format":false,"excerpt":"\r Surveyors are called in from time to time by different stakeholders to consult on land tenure in Hong Kong. The questions put to them stem largely from the fact that land parcels located to the north of Boundary Street will expire on June 30, 2047, while some leases on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118819,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/it-is-high-time-the-government-lays-out-guidelines-starts-post-2047-lease-renewal-process-to-minimise-impact-on-stakeholders\/","url_meta":{"origin":26524,"position":1},"title":"It is high time the government lays out guidelines, starts post-2047 lease renewal process to minimise impact on stakeholders","date":"October 6, 2020","format":false,"excerpt":"\r The post-2047 land lease arrangements in Hong Kong have been causing public unease for over a decade now. 2047 may seem distant, but in fact the lease renewal issue is rather close at hand. As pointed out by the Secretary for Development, Michael Wong, in the Legislative Council last\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62288,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-tycoons-seeking-uk-investments-must-go-with-eyes-wide-open\/","url_meta":{"origin":26524,"position":2},"title":"Hong Kong tycoons seeking UK investments must go with eyes wide open","date":"July 31, 2017","format":false,"excerpt":"\r Major investments outside of Hong Kong by the city\u2019s wealthiest families have raised questions about an exodus of wealth before 2047 and whether their actions represent moves by \u201csmart money.\u201d Lee Kum Kee Group, the Hong Kong company best known for its oyster sauce condiment, recently purchased a London\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-landlords-offer-deep-discounts-on-short-term-retail-leases-hope-to-raise-rents-in-the-next-market-rebound\/","url_meta":{"origin":26524,"position":3},"title":"Hong Kong landlords offer deep discounts on short-term retail leases, hope to raise rents in the next market rebound","date":"April 18, 2022","format":false,"excerpt":"\r Shop owners in Hong Kong prefer to cut rents only for short-term leases, hoping to lift the rates when the next quick retail turnaround arrives.\r \r Source : South China Morning Post\r Read more...Hong Kong landlords offer deep discounts on short-term retail leases, hope to raise rents in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19008,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-retailers-being-offered-cheaper-rents-and-shorter-leases-even-for-prime-sites\/","url_meta":{"origin":26524,"position":4},"title":"Hong Kong retailers being offered cheaper rents and shorter leases, even for prime sites","date":"July 7, 2016","format":false,"excerpt":"\r Hong Kong\u2019s retail property market is now experiencing some of weirdest phenomena of recent times, as landlords of ground-level shops not only slash rents significantly, but also offer extremely short tenancy periods, even in prime locations.\r \r Source : South China Morning Post\r Read more...Hong Kong retailers being offered\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116295,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wework-dumps-about-fifth-of-coworking-space-in-breach-of-leases-signed-with-major-hong-kong-landlords\/","url_meta":{"origin":26524,"position":5},"title":"WeWork dumps about fifth of coworking space, in breach of leases signed with major Hong Kong landlords","date":"May 13, 2020","format":false,"excerpt":"\r WeWork, the US real estate firm, is returning about 20 per cent of its Hong Kong premises to their owners, as start-ups, small enterprises and other short-term tenants failed to take up its offering of shared working space in the city.It has given up 182,000 sq ft in Causeway\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26524"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=26524"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26524\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=26524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=26524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=26524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}