You are considered an indigenous villager if you are a triad living in a village...
You are considered an indigenous villager if you are a triad living in a village...
Lands Department - Practice Notes, Circulars, Publications, Press Releases, LegCo Matters and Government Notices
Appears to the relevant site
http://www.landsd.gov.hk/en/images/doc/NTSHP_E_text.pdf
Perhaps someone can answer this:
- Do you have to be born in the HKSAR to be entitled to such a SHP benefit?
- Given the direction of HK real estate, why would everyone who is entitled to this not want to stake a claim and build a 2100 square foot house at build cost only?
Do you have to be born in the HKSAR to be entitled to such a SHP benefit?
no, generally, you can be born overseas and as long you have 3 stars and ROA, and accepted by the village chief then you are fine
- Given the direction of HK real estate, why would everyone who is entitled to this not want to stake a claim and build a 2100 square foot house at build cost only?
even if you had the rights, a lot villages, especially ones closer to the towns , have simply exhausted the limited land supply within their village boundaries
Indeed even if you have the ding right you still need land to build the house. And even if you have ding + land you still need 1.5m to build the house. Banks will not lend money to build a village house so you will have to use your own savings. That is why many overseas Chinese sell their ding.
actually, i know a few hk people who ( not oversea chinese) who have borrowed money from banks to build a house as well as purchase a plot of land from someone else to build in ting kok village in taipo.
but its not common for people to borrow to build nevertheless
The below podcast looks at Ding Rights, what they meant in the distant past and the political cunning of the Kuk.
Worth a listen
rthk.hk 香港電台網站: Backchat:Small House Policy / Airport Authority’s New Shopping Center
Ding Rights should be changed in scope to allow villagers the right to build a house if the village is their place primary place of abode and they should only able to sell the rights to fellow villagers.
I know very little about this topic, except that:
(1) There is often talk about scrapping it / the "unfairness" etc.; which seems to suggest one should "get a move on" if there is any such entitlement claim
(2) Asking prices for houses in NT are around the 6-8 million HKD mark for 2100 square foot "village houses"
(3) If I had any such entitlement, it would be a no brainer to explore it and build - although I have the impression it is an administrative and logistical nightmare
In order to sell it on the open market the land premium has to be paid first. The profit on a village house is not 5 million+
I think people not residing in HK regularly sell their house rights to developers for ~500k. Not a bad chunk of free money for sure, but it doesn't make one an instant millionaire.