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Hong Kong Property Market - Yr.2020 May: Average price per sq feet $11299 1%   (last month:$11187)
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Trade War Pause Warms Up First Hand And Second Hand Market.

Image Caption
Grand Central will publish price this week as the soonest. ULTIMA sold three large units in one day.

Hong Kong Wen Wei Po (By Liang Yueqin)

The temporary cessation of Sino-us trade war is conducive to developers launching new properties, and the secondary market warms up at the same time, leading transaction rise again. Tian zhaoyuan, co-director of Sino Land said yesterday that, phase I of rebuilt project ULTIMA in Kwun Tong Town Centre developed by Sino, Chinese Estates Holdings and Urban Renewal Authority (URA), will upload brochure this couple days and strive for pricing and opening sample units within this week, thereinto, they will launch block 1 and block 2 at first, as for the first price list will cover one to three bedrooms layouts.

He believed, the "Xi & Trump conference" has brought good news to the market making positive market atmosphere, plus with Hong Kong low interest rates and steady economic conditions, so it is a good time to launch units and buy property in the market. He said, Ultima base will be built a 200, 000 sq ft mall, and there are full day smart bus station on floor one also minibus station on underground, supplying a full day free shopping leisure and convenient transportation.

Phase I of Ultima has 1,025 units with 54% are two rooms units in area from 490 sq ft to 670 sq ft; One room unit takes 8% in area of about 450 sq ft; Three rooms unit takes 30% in area from 717 sq ft to 880 sq ft; Four rooms unit takes 4% in area of about 1,100 sq ft. 4% left are feature units including the ones connecting with rooftop and terrace garden. The project is predicted to finish in April 2021.

T PLUS had collected 58 applications less than the quota.

T PLUS in Tuen Mun developed by Jiayuan and UPPER ZONE had collected applications for five days yesterday, source pointed, until last night, it had collected about 58 applications, less than 73 units on first price list.

New project transaction also warms up. Phase I from Sun Hung Kai’s ULTIMA in Ho Man Tin sold 3 units taking in more than HKD 142 million yesterday by bidding. These 3 units all located in block 8, which are room C on 15th floor, room C on 19th floor and room D on 20th floor, and the front two both are in usable area of 1,410 sq ft, while the last one in usable area of 1,576 sq ft. The transaction prices were respectively HKD 43.8895 million, HKD 43.71 million and HKD 46.88 million, with sq ft prices were respectively HKD 31,127, HKD 31,000 and HKD 34,700.

House from La Vetta sold at HKD 46.589 million.

La Vetta in Kau to shan, Sha Tin developed by Wing Tai and Wantai, also sold one house by bidding yesterday, which is number H9, and the usable area is 2,066 sq ft with transaction price in HKD 46.589 million and sq ft price in HKD 22,550. Buyer chose 270 days fixture date, and will enjoy cash rebate in 1.25% plus with application rights for one parking place in this project if pay off all payment in advance.

One East Coast sold 3 units by bidding.

In addition, Kowloon Development’s One East Coast in Yau Tong, sold 3 units through tender yesterday, and it had sold 11 units in the past three days.
Translated by 28Hse.com . All right reserved.