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The developer must obtain two documents before notifying owners to move in. They are the Occupancy Permit (OP) and the Certificate of Compliance (CC). Does the estimated material date listed in the new building’s sales brochure refer to the date of occupancy? In fact, the actual move-in date is often later than the estimated material date.

Jump to: OP v.s. CC | How to Access OP and CC | Material Date v.s. Occupation Date | Impact of OP on Mortgage | FAQ

Occupancy Permit v.s. Certificate of Compliance

The Occupancy Permit (OP) is often confused with the Certificate of Compliance. OP is issued by the Buildings Department to verify whether the building structure of a new development is qualified.

The Certificate of Compliance (CC), on the other hand, is issued by the Land Registry to ensure that the developer has fulfilled all land lease requirements.

1. Occupancy Permit (OP)

When a new development project is built, the building plans must be submitted to the Buildings Department for approval in accordance with the Building Ordinance.

Upon completion, the Buildings Department will inspect the building to verify whether it complies with the approved construction plans and other standards such as structural safety, occupancy standards, property usage, and the number of units per floor. If the requirements are met, the OP will be granted .

Developers must apply for the OP within two weeks of the estimated material date and notify buyers within six months of receiving the permit. The number of completed private property published by the Rating and Valuation Department is based on the number of OP certificates granted.

2. Certificate of Compliance (CC)

CC is a proof of completion issued by the Lands Department. When the government sells land, it attaches conditions such as the construction of pedestrian walkways, footbridges, and greening facilities. If the developer has fulfilled all the responsibilities stated in the agreement, the authority will issue the CC, and the developer will formally obtain the legal estate of the land.

The Lands Department will announce on its website the addresses and number of properties that have been approved for the CC each quarter.

Developers must apply for the CC from the Lands Department within two weeks of the estimated material date and must notify the buyer of handover within one month after obtaining the CC.

Developers need to obtain both the OP and CC before the owner can move in. As the validity period of the CC is shorter, developers usually obtain the OP first and then the CC.

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How to Access OP and CC

Property owners can conduct an online land search for their property and obtain the memorial numbers of the OP and CC, and then use these numbers to look up the relevant documents.

Material Date v.s. Occupation Date

The sales brochure of a new property often lists the expected material date, which is the expected completion date when the property will meet the requirements for obtaining the OP and CC documents.

However, even after obtaining these certificates, it may not be possible to move in immediately. The developer still needs time to process the handover procedures. There may be delays due to adverse weather or unexpected issues. Therefore, the actual move-in date may be later than the expected material date.

Impact of Occupation Date on Mortgage

A delay in occupation date may impact mortgage approval. Buyers who opt for the stage payment mortgage plan normally apply for a mortgage three months before the expected material date.

However, the validity period for property valuation, which is required for the mortgage application, is generally 60 days. Also, the bank will request a credit report after mortgage application, which has a validity period of three months.

A delay in occupation date may require buyers to re-evaluate the property, apply for a new credit report, and provide new income proof. If the property value increases or the income decreases during this period, it may directly affect the amount of the mortgage loan that can be approved.

It is crucial to understand the expected completion date, or it can affect mortgage approvals and move-in dates. Similarly, when searching for a property, it is essential to consider all aspects and compare different properties to find the best deal. Go to Spacious to discover a wealth of properties listed for sale. 

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