28Hse-Hong Kong Property
Hong Kong Property Market - Yr.2020 May: Average price per sq feet $11348 1.44%   (last month:$11187)
Home  - News
News and article search:
   Previous News: (YYYYMMDD)
Property News
Property News(Eng)
New Homes
HK Gov.policy
Land news
Oversea Property
New Homes
Price info.
Photo gallery
Living in Hong Kong
Expert Blog
Wed Property Focus
Frankie K.S. Wong
18 Property
Mr. Poon
Frankie K.S. Wong
News content

GRAND CENTRAL Additional Launches 100 Units by Original Price to Pursue Larger Sales Volume Rather Than Higher Sales Price.

Image Caption
60% of the whole units have been sold in 11 days; 208 units will be put on sale on Saturday.

Hong Kong Wen Wei Po News (By Yan Lunle)

GRAND CENTRAL in Kwun Tong, which was jointly developed by Sino, World Asset Development and the URA, has sold 1,205 units that are about 60% of the whole project during the past three rounds of sales in just 11 days. However, developers' pricing strategy is still very restrained which is pursuing sales volume rather than sales price due to the sluggish market, even if the sales are hot. Developer additional launched 100 units in GRAND CENTRAL phase 2 only in original price yesterday, and will arrange next sales on this Saturday, involving 208 units.

GRAND CENTRAL phase 2 has put on sale 338 units recently and about 335 units among were sold, accounting for more than 99%. The developer immediately additional launched a new price list of 108 units by slightly mark up of 1% to 3%; And they additional launched again another price list of 100 units in original price yesterday, with discounted average sq ft price in about HKD 19,952. Comparing base on average sq ft price, it is 0.57% higher than HKD18,988 which was in last price list.

The smallest unit is HKD 6.68 million.

It is known, the 100 units in the new price list include 65 units in layout of two bedrooms, 18 units in layout of one bedroom and 17 units in layout of three bedrooms, and the prices are from HKD 9.627 million to HKD 22.769 million, with sq ft prices from about HKD 22,871 to HKD 27,400 and the average sq ft price is about HKD 24,953. The discounted prices are HKD 7.6534 million to HKD18.1013 million , in discounted sq ft prices from HKD18,183 to HKD 21,783, after calculating the maximum discount of about 20.5%.

GRAND CENTRAL phase 1 had sold out all 871 units in the first two rounds of sales, and phase 2 is nearly sold out, the largest buyer among is a family bought six units, the Associate Director of Sales Department of Sino, Tian Zhaoyuan expressed. In the past two days, GRAND CENTRAL phase 2 has additional launched a total of 208 units, including the smallest one bedroom unit that firstly launched, which is room B in 7th floor of block 5 in usable area of 333 sq ft, and its discounted price is HKD 6,683,500 with sq ft price in HKD 20,071. The relevant sales arrangements was uploaded and these 208 units will be put on sale this Saturday.

Ultima sold 9 units taking in more than HKD 520 million.

As for another new project, a luxury housing estate in Ho Man Tin developed by Sun Hung Kai, Ultima, which is in ready stage, sold 9 units by bidding yesterday taking in more than HKD 520 million, and the transaction prices ranged from HKD 24.1736 million to HKD 116.3 million, with sq ft prices ranged from HKD 26.800 To HKD 50,000. The one in the highest transaction amount and the highest sq ft price is a duplex large house room D in 28th and 29th floors of block 8, which is in usable area of 2,326 sq ft joining a platform in 261 sq ft, and the transaction amount was over HKD 116.3 million with discounted usable area sq ft price in HKD 50,000. The transaction prices of the remaining units ranged from HKD 24,173,600 to HKD 68,018,800.

New building plan was approved; Chai Wan Road project "shrank”.

In addition, the Buildings Department approved a total of 19 building plans in October. Among them, the former CMB Chai Wan Depot in Chai Wan Road No.391 owned by Swire Properties and China Motor Bus, had received a approval in this August, which was building two residential mansions in 36 and 38 floors on a base including three layers of platform and two layers of basement, and the residential floor area was about 433,900 sq ft while the non residential floor area was 1,999 sq ft. However, they submitted another new development plan and was approved in October, in which the total floor area is reduced by nearly 151,000 sq ft or 34.4%.

The new plan is construction of a 41 floors residential building, reducing 1 building comparing with the plan approved in August, and the residential floor area and non-residential floor area are respectively adjusted to about 255,400 sq ft and 32,548 sq ft, while the difference to the former plan is a public transport terminal. There are more focal projects. WONDERFUL Group’s Tai Po Road residential site in Tai Po Kau, which was won in 2016 by HKD 1.182 billion, was approved to build 52 houses in 2-3 layers on 2 layers of basement and 3 blocks in 7 layers, with the total floor area in about 259,968 sq ft.

Henderson’s Tai Cheong St Project was approved to build commercial building.

As for Henderson’s Tai Lo House in Tai Cheung Street No.2 in Sai Wan Ho, it was approved to build one commercial building in 29 layers, with building floor area in about 117, 142 sq ft while non building floor area in about 17,850 sq ft. Kai Yuen St No.60-74 project in North Point, was approved to build a residential building in 31 layers, involving a floor area of ​​about 197,617 square feet.
Translated by 28Hse.com . All right reserved.