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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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New projects are active; The Vantage increase prices by 10% in 24 hours and 22% in two weeks, with the discounted average sq ft price at HKD 24,300.

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

Developers additional launched more with largely mark up seeing the sales of properties suitable to the first housing people is good. Henderson’s Hung Hom The Vantage yesterday additional launched 56 units at average sq ft price of HKD 26,469 after the additional 92 units being launched by mark up the day before yesterday, the discounted average sq ft price is HKD 24,352 under the same highest discount of 8%, a rise of 10.1% in comparison to the day before yesterday at HKD 22,107 and a rise of about 22% in comparison to only two weeks before that at the end of last month at HKD 19,976, furthermore it is 16% expensive than the second hand property sq ft price in the same district. The lowest discounted price is HKD 4.295 million for the open style unit in 196 sq ft.

The Vantage additional launched 56 units of open style to two rooms in areas from 192 sq ft to 425 sq ft yesterday, which are in sale prices from HKD 4.669 million to HKD 12.16 million with the average sq ft price at HKD 23,821 to HKD 28,612, and the discounted sale prices are from HKD 4.295 million to about HKD 11.187 million leading the discounted sq ft price from HKD 21,916 to HKD 26,323, according to the price list.

56 units are additional launched. 196 sq ft unit in latest price list is 12.6% expensive than in the previous.

In the first price list launched on 26th February, room D5 on 15th floor in 196 sq ft was HKD 4.421 million with the sq ft price of HKD 22, 556, while in the No.5 price list launched yesterday, room B8 on 15th floor, also in 196 sq ft, the price of which had increased to HKD 4.98 million with the sq ft price at HKD 25,408. In other words, the unit of same area on the same floor is 12.6% more expensive in just two weeks.

Lin Damin expected there will be second round sales within 7 days.

The Vantage started to collect applications since yesterday with 117 applications received on the first day, acting general manager of sales department (1) of Henderson, Lin Damin expressed. In response to market demand, they additional launched more yesterday, and some units were at discounted sq ft price up to HKD 25,000. This project will hold the second round sales from the 5th to the 7th.

For the first-hand vacancy tax will soon be launched, he stressed that the group has only more than 100 units ready stock, and it will be a certain time for the policy to be implemented, so it is expected to have enough time to sell. Luxury home buyers generally wish to personally visit the existing house, and hoped that such properties can be sold in one and a half to two years after it was occupied, only until when the related cost shall be charged, he pointed.

Yau Tong Maya may upload brochure this week.

Other new projects are also ready to be launched. Yau Tong Maya developed with mainland developer Cifi Group had gained the presale approval, which will upload brochure and offer prices within this week at the soonest, and it is described the first batch property prices will be the most attractive in Kowloon East, also it will be not less than 20% in the first batch which will be about 65 units, the CEO of Wang On Properties, Huang Yaoxiong expressed yesterday.

He also described the sale of the Maya as "The eldest daughter is about to marry" and "will prepared a rich dowry for her." All the two-bedroom and three-bedroom standard houses in the project will be equipped with German brand "GAGGENAU" appliances in a total market value of more than HKD 60 million, including steam ovens, gas double-head furnaces, washing machines, refrigerators and range hoods, he pointed.

According to the data, the project consists of two buildings supplying a total of 326 units, with two rooms from 492 sq to 548 sq ft, three rooms from 627 ft to 795 sq ft and featured rooms range from 456 sq ft to 1,838 sq ft.

The villa in La Cresta is HKD 141 million.

About first hand property trading, Sha Tin Kau To La Cresta sold No.2 villa (including underground parking spaces P6 and P7) at HKD 141 million with the sq ft price at HKD 39,500 by bidding yesterday, and it is in area of 3,587 sq ft setting with garden in 1,346 sq ft and swimming pool, the assistant general manager of international sales and marketing of HKR International, Chen Xiuzhen expressed.

As for main land developer China Metallurgical Group’s L’AQUATIQUE in Tsing Lung Tau, Castle Peak Road sold 2 units in one-bedroom yesterday, which are room C on high floor of block 1 in area of 429 sq ft being sold at HKD 6.573 million with the sq ft price at HKD 15,322; and room E on medium floor of block 2 in area of 300 sq ft being sold at HKD 4.641 million with the sq ft price at HKD 15,470.
Translated by 28Hse.com . All right reserved.