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Hong Kong Property Market - Yr.2019 Jun: Average price per sq feet $12536 2.03%   (last month:$12287)
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The Vantage Additional Launched More By Mark Up With Prices Rising Above 10% in Two Weeks; The Discounted Average sq ft Price Is HKD 22,000; One Room Unit Is More Than HKD 5 Million of the Lowest.

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

Hung Hom The Vantage, a property suitable to the first housing people in urban area, put on sale the first batch of 246 units on last Saturday and were sharply sold out. Yesterday, Henderson immediately additional launched 92 units by mark up, with the discounted average sq ft price up to HKD 22,107, slightly higher than the market price, and the one room unit in 255 sq ft is HKD 5.065 million after discount, a rise of 4% compared with last price list. The price is about 10% higher in only two weeks compared with the discounted average sq ft price at HKD 19,977 of the first price list announced in the end of last month.

Yesterday, Hung Hom The Vantage additional launched 92 units of one room and two rooms in areas from 255 sq ft to 381 sq ft, which are in sale prices from HKD 5.505 million to HKD 9.91 million with the average sq ft price at HKD 24,029, and the discounted sale prices are from HKD 5.065 million to HKD 9.117 million after the highest discount of 8%, according to the price list.

The contrast of previous and the latest price lists showed, the newly launched one room unit room C2 on 28th floor in area of 255 sq ft is HKD 6.655 million, with the sq ft price at HKD 26,098. Room C3 on 28th floor in area of 270 sq ft included in the first price list, which has similar layout and view with room C2, was HKD 6.338 million with the sq ft price at HKD 23,474, which means the sq ft price of the latest room C2 is 11% higher than of room C3.

Ocean Sky increases prices while Regent Hill decreases privileges.

Other new projects also follow to increase prices. Nam Cheong Station Cullinan West phase 2A developed by SHKP and MTR increased the prices of 2 units in 1,854 sq ft of Ocean Sky by 2%, which are room B on 9th floor and room B on 11st floor, and the sale prices are HKD 63.095 million and HKD 65.017 million respectively after mark up, with the sq ft prices are HKD 34,032 and HKD 35,069 respectively.

In addition, Happy Valley Regent Hill developed by Yong-guang group and etc. yesterday announced to cancel the 360-day live before pay method and extended the stamp duty grace period from March 31 to April 30, but the discount was reduced from 6% to 3%, a price rise of 3% in disguised form.

Units came across forfeiture of initial deposit from Ocean Pride were sold out in one hour.

About first hand property trading. The 4 units from phase one of Cheung Kong and MTR’s ready project Ocean Pride in Tsuen Wan, which came across forfeiture of initial deposit in early, were put on sale again yesterday with mark up from 12% to above 18%, market source pointed, about 50 groups potential buyers were attracted, and developer used draw lot for house selections, also it is known all were sold in less than one hour after the sales started. These 4 are from 391 sq ft to 770 sq ft, at discounted sale prices from HKD 7.82 million to HKD 15.44 million after mark up.

It is planned to relaunch the 11 units of Ocean Supreme which were closed in earlier in the short term in view of the warm market, the investment director of Cheung Kong, Guo Ziwei expressed.

The sq ft price of three-bedroom house in Babington hill is up to HKD 40,000.

Ready project Babington hill in Mid Level West District of Hong Kong Island developed by SHKP and New World sold one three-bedroom standard house by bidding yesterday, which is room B on 18th floor in area of 836 sq ft and was sold at HKD 33.44 million, with the sq ft price was up to HKD 40,000.

In addition, ready luxury project 8 Deep Water Bay Drive in Hong Kong Island South District developed by Nam Phong and Vervain Resources uploaded sales arrangement yesterday that additional launch of 1 unit by bidding, which is room B on 5th floor of block 1 in area of 3,641 sq ft, and the application will close at 11am this Friday.

Sino’s Commune Modern in Fanling changed the sales method of the room B,C and D on 25th floor of block 2 from price list to bidding yesterday, the areas of which are from 461 sq ft to 741 sq ft.
Translated by 28Hse.com . All right reserved.