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Hong Kong Property Market - Yr.2019 Apr: Average price per sq feet $11842 1.7%   (last month:$11644)
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Nan Fung: Three Projects Including About 869 Units Will Be Launched This Year.

Image Caption
2019-01-17-(Thu)
【28Hse.com】  
The property price is expected to be stable. LP6 has no intention to reduce the price.

Hong Kong Wen Wei Po (By Liang Yueqin)

Nan Fung Group, which achieved more than HKD 20 billion in property sales revenue last year, will mainly put on sale three projects with about 869 units this year, including LOHAS Park LP6 that has about 809 units left, Island Garden in Shau Kei Wan that has about 11 feature units left, and 8 Deep Water Bay Drive has 49 floor type units left. The Group is not intended to adjust the price of LP6 for the time being expecting Hong Kong property price will develop steadily this year.

Nan Fung mainly put on sale the surplus of LP6 in Tseung Kwan O this year,which has sold 1,583 units since the sales started in last September, and about 809 units are currently on sale, with 468 units among have not yet offer prices, then after the Spring Festival, they will put on sale 11 featured households of Island Garden in Shau Kei Wan and 8 Deep Water Bay Drive in Southern District, the General manager of Development and Sales Department of Nan Fung, Lu Zihao, expressed yesterday.

They focus on the sales of LP6, while the sales of two projects in Hong Kong Island will start after the Spring Festival.

8 Deep Water Bay Drive had sold 3 floor units in early and there are still 49 floor type units which will be put on sale by bidding after the Spring Festival in intention sq ft price of HKD 80,000, while two villas had been reserved for self use by one of the developers Nan Fung Resources, the Senior Manager of Nan Fung Development Sales Department, Li Zhendong pointed. He continued, Nan Fung's development project in LOHAS Park phase 10 is expected to be launched in the second half of next year.

Over HKD 20 billion on property sales was took in last year, which is the latest peak in recent years.

The Group’s LOHAS Park LP6 has sold 41 units after the launch of the 1% New Year discount on December 15 last year, without intention to adjust the selling price temporarily, and he believed Hong Kong property prices will develop steadily this year, Li Zhendong expressed when was asked if Nan Fung will sell its real estate at a reduced price seeing many new projects were launched at low price recently.

The Group's sales revenue last year was over HKD 20 billion, which is the latest peak in the Group in recent years, and they also interested in various types of land in each district of Hong Kong intending to increase land reserves through land investment, he also said.

Ori is being handed over to owners; The second hand sq ft rent is about HKD 40.

Nan Fung’s Ori in Tuen Mun is handed over to the owners since this month, with 73 units had been finished until yesterday, and the remaining 297 units are successively being handed over, besides the sq ft administrative fee is about HKD 3.97, Lu Zihao pointed.

The average sq ft price was HKD 9,600 when it was launched in 2016, the total 370 units of which had been sold with more than HKD 1.5 billion was took in, he said. .
Ori has Guest Club in a total indoor and outdoor area of ​​about 20,000 sq ft, and the main facilities include an outdoor swimming pool, fitness room, music room and children's playground etc,. The sq ft rent of the rented out unit is about HKD 35 to HKD 40, with rate of return in 3%, Fang Qiming from Centaline expressed.

Mayfair By The Sea 8 collected 130 applications on the first day exceeding the quota.

About other new projects. Sino’s Mayfair By The Sea 8 in Pak Shek Kok, Tai Po firstly launched 108 units in price 20% lower than market level, and 130 applications were collected yesterday of the first day.
Mayfair By The Sea 8 started to collect applications since 2:00 pm yesterday, with more than 108 applications were collected in the first two hours, exceeding the quota, the Associate Director of the Sales Department of Sino, Tian Zhaoyuan expressed. About 60% of the customers were interested in the two bedrooms unit, while about 40% were interested in the three-bedroom unit.

The club has a total area of ​​36,000 sq ft, providing 14 facilities such as an outdoor 50-meter pool and an indoor 25-meter heated swimming pool, BBQ and other facilities, also there is gardens in about 31,000 sq ft, he said.

Monti additional launched 15 units with some among in mark up of 13%.

Monti in Sai Wan Ho developed by Li Zhan and URA (Urban Renewal Authority), suddenly additional launched 15 units yesterday with 12 units among will be put on sale on Sunday, including open style unit and one-bedroom unit with usable areas in ​​264 to 386 sq ft, and the discounted lowest price was HKD 5,255,400 after deducting the 11% maximum discount. Some among had been reduced by about 13%, such as Room A on the 10th floor, with a usable area of ​​386 square feet, was in discounted price of HKD 7.509 million(discounted sq ft price in HKD 19,455), which is 13% lower than the discounted sale price of HKD 8.62 million (discounted sq ft price in HKD 22,333) of the room A in 9th floor having same area included in the price list no.1 in last August. .

Carmel’s 118 units will start sales on Sunday

Wing Tai Properties Limited’s The Carmel in Tuen Mun announced yesterday to put on sale the first batch of 118 units of floor apartment on Sunday, without arrangement of large customers’ house pick term, but each buyer can buy three units as the most, and the application will closed at 5:00 pm on this Saturday. These units have usable areas from ​​259 to 881 sq ft, with an average sq ft price of HKD 11,517, of which 103 units are priced at less than HKD 6 million, and the lowest price is HKD 3.32 million with the lowest sq ft price in HKD 9,488 .
Translated by 28Hse.com . All right reserved.