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Hong Kong Property Market - Yr.2019 Mar: Average price per sq feet $11279 3.27%   (last month:$10922)
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Fierce Competition! 4 New Projects Including More Than 2000 Units Will Be Launched.

Image Caption
2019-01-08-(Tue)
【28Hse.com】  
Applications for The Paragon were 11 times of the quota. Pricing of The Carmel is published today at the soonest.

Hong Kong Wen Wei Po (By Ngan Lun Lok, Leong Yuet Kam)

At the beginning of the new year, the stock market stabilized, and four new projects including more than two thousand units are lunched taking advantage of hot market. After COHL announced the first price list of The Paragon in Tai Po on Thursday, Wing Tai Asia also uploaded the sales brochure of The Carmel in Tai lam section of Castle Peak Road in Tuen Mun, the smallest unit among is only 259 sq ft which is also the smallest of first hand property in Tai lam section in recent years, and its pricing will be announced today at the soonest; It is a recent year in Tai Lam District. The newest size of the new flat, the disc is the fastest today, the Regal Hotel has been approved for sale last year. Beverly Plaza Hotel’s Mount Regalia in Kau To Highland which was proved for sales last year and Sun Hung Kai’s Downtown 38 in Ma Tau Kok are estimated to be launched soon.

The Carmel, developed by Wing Tai and located in Tai lam section of Castle Peak Road inTuen Mun, uploaded the sales brochure yesterday. Pricing will be announced within this week as the soonest and the sales will start in this month with pricing will refer to new project in same district like The Bloomsway and PeakCastle etc., Zhong Zhilin, the Executive Director and Sales and Marketing Director of Wing Tai expressed. The project has two sample units which will open by schedule this week. Source pointed, this project announces prices today as the soonest. .

The Carmel uploaded the sales brochure and will open the sample units this week.

The Carmel offers 178 units, 130 of which are tiered units, ranging from open style to four-bedroom feature style, in areas from 259 sq ft to 1,476 sq ft. Its smallest unit in 259 sq ft is also the smallest among new projects in nearby area of recent years .

The smallest units of The Bloomsway and Le Point are 308 sq ft and 321 sq ft respectively, according to the data. The project also offers 48 garden houses with usable areas ranging from 1,082 sq ft to 4,144 sq ft, and the layouts are from 3 bedrooms to 5 bedrooms with 2 suits.

Mortgage may be relaxed; Zhong Zhilin: Property suitable to the first housing people is a good choice. Financial Secretary, Chen Maobo, considered to relax mortgages ratio, and Zhong Zhilin welcomed, who pointed second-hand property supply is a lot more than first hand property supply in the market, also he believed house changing chain will be built to drive the property market tend to stable if the first hand and second hand property transactions can be connected. As for how to relax, he believed it is a good idea to start with the properties suitable to the first housing people, because it is noted that many young people in the market actually have enough capacity to afford mortgage repayments but lack of down payment.

He also considered the adjustment of the property market will stop soon, because recent market situation is more clear such as Interest Rate Hike range after about a half year of adjustment since last July and August, and there are also a lot of rigid demand in the market. Although the property market returned to stable but will not boom base on it, he pointed.

In addition, about 4,100 applications for COHL’s The Paragon in Tai Po were collected until last night, which is 11.6 times of the quota, after the first price list including 324 units was announced on last Thursday. Source pointed, developer publishes the additional launch and sales arrangement today and will put on sales it this weekend at the soonest.

Mount Regalia and Downtown 38 will be launched soon.

Beverly Plaza Hotel’s Mount Regalia in Kau To Highland which was approved for sales last year opened the sample units to the media today and is expected to be launched soon. Sun Hung Kai is possible to announce prices of Downtown 38 in Ma Tau Kok in a couple of days.

The sq ft price in GRAND CENTRAL is HKD 23,500, which is the latest peak among standard units.

In terms of the first hand property transaction, market source pointed,GRAND CENTRAL in Kwun Tong developed leading by Sino, sold 2 units yesterday, room K in high floor of block 3 in usable area of 569 sq ft and layout of two rooms join with storage room among was HKD 13.426 million with sq ft price in HKD 23,596, becoming the latest peak of the standard household units. Some feature units in GRAND CENTRAL are currently inviting tenders, and it is expected the sq ft price will break record.

Sun Hung Kai’s Ultima in Ho Man Tin sold 5 tiered units in the form of tenders, taking in more than HKD 316 million; Among them, Room C in 21st floor of block 5 had the highest turnover and sq ft price, which was HKD 71.444 million and HKD 41,465 respectively base on a usable area of 1,723 sq ft and in layout of four rooms; The transaction prices of other units were HKD 51.888 million to HKD 68.066 million with sq ft prices from HKD 34,483 to HKD 39,851.

Billion Development’s The Horizon in Pak Shek Kok, Tai Po sold 6 units yesterday, taking in more than HKD 226 million in a single day. The transaction price of No. 2 house was HKD 119 million, which is in usable area of 4,277 sq ft and sq ft price of HKD 27,823. This project also sold Room A and B on the 9th floor of Court A, (usable areas are 1,329 and 1,411 sq ft respectively) in transaction prices of HKD 28.918 million and HKD 30.702 million. The market source pointed they were bought by same buyer, that is, the total price of HKD 59.62 million in sq ft price of HKD 21,700, which need to pay tax up to about HKD 17.88 million assuming that the buyer has to pay 30% of the property price.

La Cresta sold 38 parking spaces taking in more than HKD 140 million.

La Cresta in Kau To Highland developed by HKR International and Nam Phong, sold 38 parking spaces on last Saturday and took in more than HKD 144 million.
Translated by 28Hse.com . All right reserved.