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Hong Kong Property Market - Yr.2019 Oct: Average price per sq feet $11030 0.51%   (last month:$10974)
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Sale of Mayfair By The Sea 8 Slows Down; 31% or 37 Units Were Sold On One Day In Second Round; Three Rooms And Four Rooms Units Are Unsalable.

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2019-01-30-(Wed)
【28Hse.com】  
Hong Kong Wen Wei Po (By Liang Yueqin)

The sale is slow down even though new projects are being launched in low price, since citizens’ purchasing intention reduces at the end of the lunar year. Mayfair By The Sea 8 in Pak Shek Kok, Tai Po collecting about 230 applications put on sale the second round of 118 units yesterday, about 37 units or only 31% among were sold on one day, two rooms units among were nearly sold out, while three rooms and four rooms units were unsalable, with only 6 to 7 units were sold. Comparing with 174 units were sold on the first day of the first round on last Wednesday, with a sales rate of 76.3%, it was obviously weak. This project had sold 218 units in 7 days taking in more than HKD 1.7 billion until last 6:00 pm, the spokesman of Sino expressed.

Yesterday, potential buyers of Mayfair By The Sea 8 registered in succession at the sales office in Tsim Sha Tsui since 9:30am, then started draw lots since 10:30am, and the house selecting area was full of registered potential buyers. At the first half hour after sales started, 33 units were sold, and there was large buyer spent more than HKD 20 million to buy two units, including room D on middle floor of block 1 in area of 859 sq ft which was sold at HKD 12.89 million with the sq ft price at HKD 15,006, and the room J on middle floor of block 2 in area of 563 sq ft which was sold at HKD 7.57 million with the sq ft price at HKD 13,457.

Besides, room B on middle floor of block 2 in area of 1,007 sq ft has the highest sales price of HKD 15.71 million after discount with the sq ft price at HKD 15,606.

Centaline: Buyers are mainly interested in two rooms units.

The second round sale of Mayfair By The Sea 8 started yesterday, with the attendance only about 60%, and most of them were potential buyers who are mainly interested in two rooms units at about HKD 5 million to HKD 7 million, while the sale of three rooms units is slow since there are many choices in the district, the Asia Pacific Vice Chairman and Chief Executive Officer of Residential Department of Centaline Property, Chen Yongjie expressed. 70% of the potential buyers of Mayfair By The Sea 8 which started sales yesterday are users, and 30% are investors, including many young buyers around 20-40 years old, besides the predicted sq ft rent will be about HKD 40 after occupied, with the return of rent is about 0.3% monthly, the CEO of the Residential Department of Midland, Bu Shaoming expressed.

Price of Providence Bay villas declined.

As Sino put on sale the Mayfair By The Sea 8 in Pak Shek Kok, Tai Po, Providence Bay in same district sold No.8 house by bidding yesterday at transaction price of HKD 72 million with the sq ft price at HKD 25,237 base on the area of 2,853 sq ft, which are both the latest lowest of the project.
Marinella in Aberdeen developed by K Wah International and so on also sold one No.8 garden villa including 3 parking spaces by bidding at transaction price of HKD 218 million with the sq ft price of HKD 60,188, being the highest transaction price of the project, and it is in 3,622 sq ft joining with garden in 999 sq ft.

Chinachem sold Jade Cove villa at HKD 31.36 million.

Besides, Chinachem’s Jade Cove in Castle Peak Road, Tuen Mun sold 51A villa at HKD 31.36 million yesterday. It is in 2,178 sq ft connecting with private garden in 881 sq ft. The sq ft price was about HKD 14,400. The house visiting of Jade Cove sharply increased in recent months driving by the property boom market, so it is believed the transaction will continue, the Sales Department Director of the Group, Wu Chongwu expressed.

Sun Hung Kai’s Grand YOHO in Yuen Long sold 2 units by bidding taking in more than HKD 30 million. They are room E on 31st floor of block 5, which in area of 898 sq ft was sold at HKD 19.58 million with the sq ft price at HKD 21,808; and the room C on the 26th floor of block 8, which in area of 537 sq ft was sold at HKD 11.53 million with the sq ft price at HKD 21,489.
Translated by 28Hse.com . All right reserved.