Debated in Parliament on 12 Nov 2012.
Ms Ellen Lee asked the Minister for Law up to September 2012, what is the strata title area of non-landed properties (i) sold with unanimous or majority consent under collective sale agreements (CSAs) and (ii) redeveloped (where the actual redeveloped area is unknown, then the projected area based on an assumption of maximum gross floor area [including bonus GFA] under permissible density within the plot density ratio), broken down respectively by the sold estates aged (i) less than 10 years (ii) between 10 and 20 years (iii) between 20 and 30 years (iv) between 30 and 40 years and (iv) 40 or more years as of the date of the CSA.
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The collective sale regime facilitates the optimal use of land, through the collective decision of at least 80% of strata title owners. We do not track the specific statistics sought by the Member.
The statistics that we track indicate that collective sales have resulted in more intensive use of land. More than 20,000 units, most of which are residential, have been collectively sold since 2000. On average, for each of these units, two to three units were created after redevelopment.
Page: 1159
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