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Hong Kong Property Market - Yr.2019 Oct: Average price per sq feet $11127 1.39%   (last month:$10974)
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The First Hand Luxury Projects Are Hot; Both Peak Castle And The Horizon Are In Good Sales.

Image Caption
2019-03-05-(Tue)
【28Hse.com】  
Hong Kong Wen Wei Po (By Li Zhitian)

The latest budget plays no role in property sales. Powerful buyers continue to grab houses in the first hand property market, leading luxury houses from many developers being sold by bidding. Emperor Group’s Peak Castle in Siu Lam, Tuen Mun recently recorded a single number villa being sold at HKD 75 million by bidding, and this project has sold 8 units taking in HKD 840 million; Billion Development’s The Horizon in Pak Shek Kok, Tai Po yesterday (4th March) sold 10 standard units in succession at transaction prices from HKD 6.453 million to HKD 18.606 million, taking in more than HKD 85 million on one single day.

The Emperor Group's Peak Castle in Siu Lam, Tuen Mun was put on sale by bidding in earlier, and it sold the No. 15 villa yesterday at HKD 75 million with the sq ft price at about 27,027. This villa is in usable area of about 2,775 sq ft and layout of three rooms two suites, with the areas of garden and rooftop in 1,991 sq ft and 928 sq ft respectively, also there are private swimming pools and 2 parking spaces. The project has a total of 14 villas, and has sold 8 units since its launch in June 2018, taking in a total of more than HKD 840 million, developer added.

Victoria Harbour four bedrooms unit was sold at HKD 80 million.

Billion Development’s The Horizon in Pak Shek Kok, Tai Po sold 10 standard units in succession by bidding yesterday, which are in usable areas from 468 sq ft to 1,232 sq ft and in transaction prices from HKD 6.453 million to HKD 18.606 million with the usable area sq ft prices from HKD 13,788 to HKD 15,948, taking in HKD 85.329 million on one single day.

In addition, Sun Hung Kai’s luxury project Victoria Harbour in North Point got the first transaction in March, which was room A on 5th floor block 1 being sold by bidding yesterday, and it is a 4 bed-rooms unit at usable area of 1,585 sq ft being sold at HKD 80 million with the usable area sq ft price at HKD 50,473. Victoria Harbour has sold 3 units including this transaction since the beginning of this year, taking in more than HKD 172 million.

Redhill Peninsula villa was sold at HKD 84 million.

Chinachem Group’s Redhill Peninsula in Tai Tam recorded No.145 villa in Palm Drive being sold at HKD 84 million with the usable area sq ft price at HKD 30,129. This house is four rooms double suites in area of 2,788 sq ft joining with courtyard in 1,128 and rooftop of 578 sq ft.

The first hand private residential ready property mortgages were registered of 2,299 cases in January 2019, the number is the latest peak by month in recent two years, while the private residential pre-sale property mortgages were registered of 1,152 cases, which is the latest peak in recent 17 months, the senior co-director of the research department of Centaline, Huang Liangsheng pointed. The number reflects in the end of last year many first hand property buyers used mortgages when occupation and there were pre-sale first hand properties being sold, pushing up the mortgage number.

The first hand ready property mortgages in January is the latest peak in two years.

According to the report, in January 2019, 6,697 mortgages were registered for private residential ready property, of which 2,299 were first-hand properties, and 1,110 for second-hand property transaction mortgages and 2,889 for sub-mortgage. The first-hand property mortgages include mortgages when occupation and mortgages for first-hand ready property sales. The first hand projects had more registrations include Cullinan West 2A in 606 cases, K.CITY in 559 cases and in Jiahui, and Commune Modern in 204 cases.

In addition, Huang Liangsheng revealed that in January 2019, developers had the most of the first hand property sales of Class A (under 430 sq ft) are Sun Hung Kai(225 units) and Henderson (68 units). The two largest developers have a total sales of 293 units. According to the statistics in January 2019, Class A first hand property was sold 502 units with Sun Hung Kai had 225 units and Henderson had 68 units; Class B (431 sq ft to 742 sq ft) first hand property was sold 1,102 units with Sino had 264 units and other small and medium-sized developers had 800 units; Class C (753 sq ft to 1,075 sq ft) first hand property was sold 111 units with Sino had 45 units and other small and medium-sized developers had 47 units; Class D,E (above 1,076 sq ft) first hand property was sold 54 units with Wheelock Properties had 13 units and Sun Hung Kai had 12 units.
Translated by 28Hse.com . All right reserved.