Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Selection and adjustment of comparables

Legal area

Court

27 Apr 2017

CHU CHOR YIU v. DIRECTOR OF LANDS

Citation

CHU CHOR YIU v. DIRECTOR OF LANDS
Court

Lands Tribunal
Case number

LDLR7/2015

The tribunal assessed market value by direct comparison using selected comparables (excluding certain Fa Yuen Street and special-purchaser/redevelopment comparables), adopted agreed time adjustment (0.5% per year), floor adjustment of 2% per floor, size adjustment of 1% per 5 m2, and specific orientation/view adjustments, arrived at an adjusted unit rate of HK$62,500/m2 and determined the market value of the property as at 3 November 2012 to be HK$3,000,000.
18 Jul 2002

Secretary for Transport v. Leung Ka Tong and Another

Citation

Secretary for Transport v. Leung Ka Tong and Another
Court

Lands Tribunal
Case number

LDRW13/2001

The Tribunal accepted a selected set of proximate, arm's‑length comparables (excluding Leader and other out‑of‑range or unsuitable transactions), adopted Pang's adjustment framework with a modified location adjustment to compute an adopted average adjusted unit rate of HK$7,332 per sq.m., applied it to the saleable area 84.6 sq.m. and determined the open market value to be HK$620,287, awarding total compensation of HK$629,717 (including agreed expenses) while adjourning professional fees, interest and costs.