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Discovery Bay Poggibonsi Launches 40 Units For Tenders; HKR International: Intentional Prices Will Refer to HK & Kowloon Seascape Houses.

Image Caption
Hong Kong Wen Wei Po (By Liang Yueqin)

Under the strict competition among projects, HKR International’s Discovery Bay Poggibonsi yesterday announced the firstly 40 units for tenders, which will be closed day by day from 17th March to 30th April, and they will supply first mortgage in 80% and second mortgage in 30%. As for the senior investor Mr. Wah Lo Family Group's Cheung Sha Wan AVA 228 also launched 3 platform feature houses for tenders. In addition, Sai Wan Ho Monti developed by Lai Sun Development and Urban Renewal Authority (URA) has 15 units in price cut of 5%, and Tsuen Wan Ocean Pride latest recorded 4 cases forfeiture of initial deposit, which have been relaunched by mark up.

The first batch of Poggibonsi on sale for tenders are located in Blocks 6 and 8, including open style, two, three and four bedroom units with areas from 350 sq ft to 1,844 sq ft, enjoying the sea view of Erbai Bay and Sanbai Bay and is close to the taxi stand, the intentional prices of which will refer to the property prices of sea view units on Hong Kong Island and Kowloon, the assistant general manager of international sales and marketing department of HKR International, Chen Xiuzhen expressed yesterday. This project put on sales the units by tenders due to this method is flexible and convenient for buyers, and they have not yet decided whether to continue to sell the remaining units by tenders, she pointed.

Developer provides second mortgage in 80%.

Buyer can apply to HKR International designated financial institutions for the review of free mortgage scheme, and the maximum loan amount of first mortgage is 80% of the property price, with mortgage interest for the first two years is P-2.5% (P=5.125%), and P after; while the second mortgage is 30%, with the mortgage interest for the first two years is P-2.25%, and P after, she added. Buyer choosing the 90-day immediately mortgage payment plan can enjoy cash return of up to 3% of the property price of the highest if pay off in early, and developer will also supply construction period payment method while pay according to the delivery date.

She said that the district's last open-style unit was date back to 1988. This time, there will be open style new project, which will be the smallest in Discovery Bay, but she emphasized that open style units have independent kitchens.

In addition, Sai Wan Ho Monti developed by Lai Sun Development and URA yesterday reduced the prices of 15 units by 5%, which had took the lead in price reduction of 10% in October last year. The units are 286 sq ft to 386 sq ft, price cut of which although is less than that in October last year, but the discounted price is still lower than the first pricing in last August after the additional 3% discount base on discounted price in October last year.

Prices of Monti 15 units were reduced by 5%.

Take the room B on the 7th floor as an example, the area is 286 sq ft at the latest price of HKD 6.596 million, which is 5% lower than the price of HKD 6.943 million in August last year. After the discount, the final immediately mortgage payment discounted price is HKD 5,8863 million, cheaper about 8% than the discounted price in August last year.

The Vantage had received more than 1900 applications.

Henderson Land's Hung Hom The Vantage will launch the first batch of 246 units tomorrow. The project had received more than 1,900 applications until yesterday noon, exceeding more than 6.7 times, thereinto, investors accounted for 30%, users account for 70%, and about 10% of them are big customers, the agent general manager of sales department (1) of Henderson, Lin Damin expressed. He expressed that he is confident on selling all units, and they will additional launched on Sunday at the soonest, with mark up.
As for the senior investor Mr. Wah Lo Family Group's Cheung Sha Wan tiny house project AVA 228, it launched 3 platform feature houses for tenders, including room D, E and F on 2nd floor, application of which will be closed on next Wednesday. Among them, room D and E both have area of 129 sq ft and has a 28 sq ft platform, which is the smallest unit in the urban area in recent years. Room F is 134 sq ft and has a 18 sq ft platform. The prices list of these three was uploaded last week, but was dismissed because it did not meet the first-hand property sales regulations. The prices list then showed the discounted prices of room D and F were HKD 2.5696 million after the highest discount of 12% of the property price, while room F was HKD 2.8116 million.

Ocean Pride appeared units of forfeiture of initial deposit, which will be relaunched by mark up.

Cheung Kong’s ready project Tsuen Wan Ocean Pride recorded 4 cases of forfeiture of initial deposit, including room D on 8th floor of block 6, room C on 11st floor and room D on 36th floor of block 7, and room A on 19th floor of block 9, in usable areas from 391 sq ft to 770 sq ft. Developer yesterday announced to relaunch them next Monday with mark up by 18% the most, but the discount will be 20% of the highest, and the discounted prices are from about HKD 7.82 million to HKD 15.44 million.

According to the data, these four were originally sold in 2017, but the buyers broke the contract, and it is estimated that a total of about HKD 5.65 million will be confiscated.
Translated by 28Hse.com . All right reserved.