Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Valuation by direct comparison

Legal area

Court

30 May 2007

WONG PUI CHUEN & OTHERS v. THE DIRECTOR OF LANDS

Citation

WONG PUI CHUEN & OTHERS v. THE DIRECTOR OF LANDS
Court

Lands Tribunal
Case number

LDLR10/2006

Tribunal adopted adjusted unit rate of HK$173,251 per sq.m. (average of eight agreed comparables with tribunal adjustments), applied 7% capitalization/discount rate, deferred value for 3.5 months (discount factor 0.9805), allowed lump sum conversion costs of HK$50,000; accordingly awarded compensation of HK$7,209,000 for Shop 239 and HK$6,915,000 for Shop 237, and adjourned professional fees, interest and costs for further determination.
13 Mar 2001

David Robert Ferrier v. Yu Yui Chiu and Another

Citation

David Robert Ferrier v. Yu Yui Chiu and Another
Court

Lands Tribunal
Case number

LDNT381/2000

Adopt the respondent expert's calculation as adjusted by the tribunal: exclude non-comparable high-rise units, apply 1/8 conversion for ancillary areas, apply a 3% upward adjustment for top-floor units, apply a 4% downward adjustment for proximity to sewage treatment room, and time-adjust comparables to reflect market movement, producing an effective unit rate and a monthly rent of HK$85,100; grant new 2-year tenancy from 12 February 2001 at that rent.