2024-04-29 28Hse Editor
The first day of sales of Chinachem and the MTR's In One Above in Ho Man Tin was a hit yesterday, with 48 units sold in two hours. Over 53 per cent of the 90 units were sold in the first round. Sun Hung Kai Properties’ (SHKP) University Hill in Pak Shek Kok, Tai Po, was also well received, with all units on four rounds of price lists for Phases 2A and 2B sold out. The developer announced that Price List No. 3 would be released this Wednesday, involving 240 units at a discounted starting price of HK$3.278 million. Chow Hiu-ching
Sales were lively as buyers flocked to In One Above yesterday. One buyer, Mr. Lam, said that he had previously tried and failed to purchase a two-bedroom flat in the projects’ phase IB and phase IC developments. This time, he spent about HK$19 million to purchase a two-bedroom flat for investment purposes, noting that he purchased the flat for its views of Victoria Harbour and easy access to the MTR station.
He was optimistic about the outlook of the Hong Kong property market, and took into account the recent interest rate hikes before purchasing the flat. Helen Fung, sales director at Chinachem, revealed that 15 units in Group A had been sold quickly, with the most expensive flat being a three-bedroom, one-story terrace unit with storage room, which sold for more than HK$31 million.
In One Phase 1C sells two flats in one day
In One’s phase IC development sold two more flats yesterday. Previously, nine units were sold in 10 consecutive days, generating more than HK$154 million. The newest phase of In One Above has sold a total of 176 so far, while Phases IB and IC of the project have sold a total of 356 units since the commencement of sales in March this year, compromising over 90 per cent of the available units and yielding over HK$6.1 billion in sales.
Also in heavy demand, University Hill’s phase 2B will launch additional units in the short term. Speaking at a press conference, SHKP deputy managing director said that 205 units of the phase 2B project have been sold in the second round, of which 185 units on the price lists have all been sold out. Lui added that units on the third price list would be put up for sale on Wednesday (24th), involving 240 open-style to three-bedroom flats, with a total market value of more than HK$1.7 billion. Among the 240 flats, 222 will be available on the price list, and the remaining 18 units will be sold by tender.
Ticket registration for University Hill Phase 2B closes today
According to SHKP acting general manager Hu Zhi-yuan, the discounted price list for University Hill’s phase three development ranges from approximately HK$3.28 million to HK$11 million and the price per square foot ranges from HK$13,024 to HK$199,320. The entry-level flat is Unit A10 on Level One, Block One, with a saleable area of 221 square feet and an open-plan layout. The project will close for registration of interest today and ballots will be held tomorrow. It is reported that the prices of individual units in the first to third price lists have been adjusted by one per cent to nine per cent.
1,200 first-hand flats expected to be sold this month, property agents say
According to Louis Chan Wing-kit, vice chairman and chief executive (Residential) of Centaline’s Asia Pacific Department, the first-hand market for new properties in May is significantly better than that of April. He added that so long as developers remain restrained in their pricing, there will likely be 1,200 first-hand transactions this month.
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