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Hong Kong Property Market - Yr.2019 Oct: Average price per sq feet $11238 2.41%   (last month:$10974)
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First Hand Property Market Competition Expands; Confrontation Between Two Projects in Tai Po; MAYFAIR by the sea 8 Rush On Pricing And Will Start The Sales Next Week.

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2019-01-14-(Mon)
【28Hse.com】  
Hong Kong Wen Wei Po [By Yan Lunle,Yin Kaoling, Cheng Wancun(Trainee journalist) ]

The first hand property market is booming again. MAYFAIR by the sea 8 in Tai Po developed by Sino involving 528 units will announce pricing this couple days and will start the sales next week as soon as possible, after the good sales of Paragon in same district developed by China Overseas on last Saturday. On the other hand, The Carmel developed by Wing Tai Real Estate speeded up the sales. It is revealed that they may additional launch the floor apartments with mark up at the beginning of this week, as well as announce the sales arrangement, and the sales will start within this week. .

MAYFAIR by the sea 8 will announce the prices these couple days as the soonest, the Associate Director of Sales Department of Sino, Tian Zhaoyuan expressed. It is known the project provides 528 units, consisting of 3 blocks mainly in layout of 2 and 3 bedrooms, accounting for about 85% of the whole, 183 units among are standard two-bedrooms apartments in usable areas ranging from 490 sq ft to 595 sq ft; Three-bedrooms are 260 units in usable areas from 677 sq ft to 859 sq ft; There are 41 units in four-bedrooms with usable areas from ​​1,007 to 1,238 sq ft, and 44 are feature units.

Commission matters will be discussed after the pricing.

Sino’s commission for GRAND CENTRAL developed with Urban Renewal Authority (URA) in Kwun Tong low to 1.7% of the property price has caused a lot of dissatisfaction from agents, and Centaline has even rarely sent a letter to protest, finally the commission was increased to 2%. At the press conference yesterday, a reporter asked about the commission level of MAYFAIR by the sea 8, and pointed there is rumor that tht commission would as low as 1.25%, lower than that of GRAND CENTRAL, while Tian Zhaoyuan did not respond positively but only expressed will discuss about it after the pricing of this project. .

MAYFAIR by the sea 8 predicted to finished in February 2021 has building height up to 3.4 meters in standard units and some units estimated to enjoy sea view with all are equipped with separate kitchens, so they will launch it as a luxury project, sample units of which has opened to public in Olympian City at the Olympic Station, and the price will be referenced to the new projects in the same district, Tian Zhaoyuan said.

The Carmen in of Wing Tai in Tuen Mun also has new trend. The project had recorded nearly 5,500 person-times from last Wednesday to yesterday, and 80% were from Tsuen Wan, Castle Peak Road, Tuen Mun and Yuen Long, developer expressed. Source pointed more than 300 applications have been collected so far, exceeding 5 times of the quota that was 50 units in first batch.

The Carmel arranges to additional launch and will start the sales within this week.

Developer will actively additional launch more, and announce the sales arrangement in these couple days, then will start the sales within this week, the Executive Director and Director of sales and Marketing of Wing Tai, Zhong Zhilin expressed and pointed the price is not the last.

In early, there were more than 100 groups customers inquired the villas, so they launched 36 villas inviting tenders that will closed on Thursday as the soonest, which are in usable areas from 1,082 to 1,878 sq ft in layouts from three rooms one suite to four rooms two suites, and the price will refer to Peak Castle and The Bloomsway in the same district with intention sq ft price in about HKD 26,000 to HKD 40,000, Zhong Zhilin expressed.

In the past two days, the first hand property market recorded 502 cases of transactions in total, most of which were made on last Saturday, especially 469 cases among were from Paragon in Tai Po developed by China Overseas Holdings Limited (COHL), accounting for 93.4% of the total, and LOHAS Park LP6 in Tseung Kwan O from Nam Phong also recorded 10 transactions, synthesizing the market information.

Downtown 38 collected applications 14 times more than the quota.

The first price list announced in early of Downtown 38 in To Kwa Wan developed by Sun Hung Kai and URA included 50 units, with an discounted average sq ft price of HKD 17,288. Applications in two days were up to 746 cases, exceeding nearly 14 times of the quota base on the first batch of 50 units, source pointed.
Translated by 28Hse.com . All right reserved.