2024-04-30 28Hse Editor
(Chow Hiu-ching) Sun Hung Kai Properties’ (SHKP) NOVO LAND in Tuen Mun is gaining popularity by the day. The third sales round of 189 units in Phase 2B yesterday sold 172 units, with a 91 per cent sell-through rate as of 6:30pm, with all one- and two-bedroom units sold out. Speaking at a press conference yesterday. SHKP deputy managing director Victor Lui Ting said at a press conference yesterday that more than 690 units of NOVO LAND were sold on the 9th of March, generating over HK$4 billion.
University Hill may be put up for sale at the same time this month
SHKP general manager Mr Alan Chan revealed yesterday that there were two groups of big buyers at the sale, both buying two units each. The largest transaction was the purchase of a group of two- and three-bedroom units at more than HK$16 million, the largest purchase in three rounds of sales. Another group of buyers bought a group of one- and two-bedroom units for over HK$10 million.
In view of bullish market sentiment, Lui said that the sale of NOVO LAND Phase 2B will be followed by the sale of Phase 2A, closely followed by the sale of University Hill at Pak Shek Kok, with the possibility of simultaneous sales at both locations within the month.
KOKO HILLS Phase 3B to be sold within the month at the earliest
In addition, Phase 3B of East Koko Hills KOKO HILLS developed by Wheelock is also expected to be launched within this month. Wheelock managing director Ricky Wong Kwong-yiu said yesterday that prices for Phase 3B would be announced as soon as this week. The project involves 444 units, mainly 1-bedroom to 2-bedroom units, with a usable area of about 300 square feet to 490 square feet. It is expected to be complete by the end of June next year, Wong said.
With the promotion of new projects, the second-hand market is weakening. Based on the data from the four major agencies, over the past weekend, the transactions of the top ten blue-chip housing estates all recorded a weekly decline, with a sudden drop of 40 to 50 per cent, reflecting a clear shift in market focus.
Second-hand transactions slow down, transactions in the top 10 estates fall by 40 per cent
Centaline recorded 10 transactions over the past two days, a 12-week low and 41.2 per cent week-on-week drop, among which three estates recorded zero transactions. Louis Chan Wing-kit, vice chairman and chief executive (Residential) of Centaline’s Asia-Pacific department, said that the plethora of new developments had stolen the spotlight from the second-hand market. He also attributed the slowdown in second-hand transactions to the rigid attitude of owners, some of whom were even counterpricing.
Sammy Po Siu-ming, chief executive of Midland's residential division for Hong Kong and Macau, predicts that in the short term, the market will continue to focus on hot first-hand properties in the short term, while second-hand property prices are still on the rise. The bank's top 10 housing estates recorded a mere ten transactions in the past two days fell 44 per cent week-on-week, a 13-week low. In addition, Ricacorp recorded only eight transactions in the past two days, the second time in the past 12 weeks that the number of transactions fell to a single figure. Hongkong Land's top 10 estates also recorded a total of 8 transactions in the past two days, down 38 per cent week-on-week and back to single-digit levels.
Like 10
