2024-05-13 28Hse Editor
(Tsang Yip-chun) - Amid economic uncertainty, developers have recently launched a number of new urban developments at a low price to compete for buyers. However, some have accelerated their sales launches while raising prices.
HENLEY PARK at Kai Tak, developed by Henderson Land (0012), launched its second price list yesterday with a total of 80 units, including 68 standard units and its first 12 ground floor garden units. The project’s discounted average price per square foot is HK$22,148, more than five per cent higher than the discounted average price of HK$21,088 per square foot for the first batch of 148 units. Thomas Lam Tat-man, general manager of Henderson Land’s Sales (I) department, said that the project had received 2,405 registrations since Saturday (24th). He added that as of 8:30pm last night, the Group raised prices yesterday, doubling down on positive response to drive sales.
Lam emphasised that since this is the first time the project is offering ground floor garden units, the overall price of Price List No. Two is only 1.5 per cent higher on average after excluding special units. According to the second price list, the additional units on offer range from 250 to 649 square feet in size and are priced from HK$5.9 million to HK$19.2 million at HK$21,987 to HK$30,553 per square foot. The maximum discount of 10 per cent is maintained at a discounted price of HK$5.31 million to HK$17.2 million at HK$19,788 to HK$27,498 per square foot. The lowest discounted unit is Room H, an open-plan unit on the eighth floor of Block 1A with a saleable area of 250 square feet at HK$5.31 million. Meanwhile, the unit with the lowest discounted price per square foot is unit F, a 384-square-foot, one-bedroom flat with a cloakroom on the second floor of Block 1A, at HK$19,788 per sq ft.
Garden units start at HK$27,000 per square foot
The twelve newly launched ground floor garden units are priced from HK$7.092 million to HK$19.157 million and from HK$25,149 to HK$30,553 per square foot, with sizes ranging from 282 to 627 square feet and prices ranging from HK$22,634 to HK$27,498 per square foot. After deducting the maximum 10% per cent discount, the discounted selling prices range from HK$6.4 million to HK$17.2 million per square foot and from HK$22,634 to HK$27,498 per square foot. The unit with the highest price and square footage is Room B on the ground floor of Block B, with a saleable area of 627 square feet. It is divided into three bedrooms with an en suite and an open kitchen plan, and a 501 square foot garden.
First-hand market remains quiet Only three units sold in two days
As buyers lay low, waiting for cheap flats to be launched, the first-hand market has come to a near standstill. In fact, there were no transactions on Saturday (24 June). On Sunday (25), only three transactions were recorded, including flat B8 on the 32nd floor of Block One at Kowloon Development’s Manor Hill in Tseung Kwan O, with a saleable area of 428 square feet and a two-bedroom apartment with a storage room. The unit was sold for HK$8.31 million at HK$19,423 per square foot. Since the beginning of the year, 213 units have been sold, generating over HK$1.2 billion in cash. A total of 12 units have been sold this month for over HK$66 million.
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