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Hong Kong Property Market - Yr.2019 Oct: Average price per sq feet $11207 2.12%   (last month:$10974)
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GRAND CENTRAL Collected 7758 Applications; 488 Units Being Put On Sale Today.

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Hong Kong Wen Wei Po (By Liang Yueqin)

New project being put on sale in low price droved back the purchasing power. Grand Central(Phase 1) in Kwun Tong, with Sino Group as the lead developer, closed the application for the first batch of 488 units at 2pm yesterday, collecting 7,758 cases of application, which is 14.9 times overfulfil the quota, and these units will be put on sale today, in limitation that each applicant buys under 2 units exclude company name, Associate Director of Sino Sales Department Tian Zhaoyuan expressed. According to the data, Grand Central(Phase 1) became the third among new projects which collected the largest applications in this year.

GRAND CENTRAL uses electronic application system. Buyers can log in the website to apply on line first and then submit the application form on site to complete the process. More than 1,000 applications had been collected in the first 4 hours yesterday. It is believed this way will be convenient for buyers and also convenient for developers to analyze the region and age of the applicants thus to reduce management costs, Tian Zhaoyuan expressed.

The indicative sq ft price for two rooms unit in One East Coast is HKD25,000.

The nearby new projects in East Kowloon move and against the competition seeing GRAND CENTRAL in Kwun Tong being put on sale today. One East Coast in Yau Tong published the new sale arrangement on this Monday, launching 131 units to invite tenders from this Friday, and these units are 8 units in open style, 75 units in one room layout and 48 units in two rooms layout, Marketing and Sales Department General Manager of Kowloon Development, Yang Congyong expressed. The two-bedrooms sea view units launched this time (from 378 sq ft to 425 sq ft) have a sea view of Lei Yue Mun and enjoy indicative price. Room D in 7th floor block 1B among in usable area of 378 sq ft is in indicative price of HKD 8.359 million, with sq ft price in HKD 22,114; Another room D in 29th floor block 1A in usable area of 391 sq ft is in indicative price of HKD 9.929 million with sq ft price in HKD 25,394, which will be the latest highest sq ft price among standard units in the same district, he pointed.

In addition, people who visit and take part in question-and-answer game on site of One East Coast sales office between 2:00-7:00pm from this Friday to Sunday with the proof of the purchase intention registration form for other projects, will be awarded $1,000 cash shopping coupon from Mong Kok Pioneer Centre, and only 4 quotas per hour.

Yang Congyong emphasized they did not intend to suppress GRAND CENTRAL but only provided people more choices. It is expected that the purchasing power of the property market will stabilize after the end of the long holiday and there will be mark up by 3% to 5%. The project has not yet launched the south pointing Seaview units, the price of which is expected around HKD 30,000. He said the project had sold 102 units since being put on sale on October 12, taking in about HKD 530 million, and units sold are mainly one room units.
In respect of the transaction among new projects, The Horizon in Pak Shek Kok of Tai Po sold 21 units yesterday by bidding, which mainly are standard units in layouts from one room to three rooms, and the average sq ft price was about HKD 14,870, Pan Zhicai, Project and Sales Planning Director of Billion Development & Project Management Limited expressed. He pointed out that the project had sold 112 units and took in more than HKD1.9 billion, most customers of which bought for their own use.

Mount Vienna duplex unit is in discounted price of HKD 82.4 million.

Mount Vienna in Sha Tin cooperated developed with AG ASIA had accumulated sold 9 units, taking in more than HKD 400 million, and the average transaction sq ft price was HKD 26,000, Zhou Jiafeng, Project Managing Director of Hanison Construction expressed. He pointed out that the duplex B unit under ground floor to the first floor was priced at HKD103 million, with a discounted price of HKD 82.4 million, and the decoration fee was about HKD10 million. Buyers can purchase the above unit on a first-come, first-served basis.

Looking forward to the plan next year, the same series West Park will be put on sale in ready flat way in the second quarter next year, providing 63 units from one to three rooms, and new commercial building in Ta Chuen Ping Street of Kwai Chung will be launched in the fourth quarter of next year, the number of units of which is undetermined, while it is estimated will provide small units in areas mainly from about 600 sq ft to 800 sq ft, he said.
Translated by 28Hse.com . All right reserved.