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Hong Kong Property Market - Yr.2019 Oct: Average price per sq feet $11147 1.58%   (last month:$10974)
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One East Coast additional launches the price list according to the new guidelines.

Image Caption
Hong Kong Wen Wei Po (By Leong Yuet Kam)

Before the new guideline for new projects announced by The Real Estate Developers' Association (REDA) that will go into effect on this Saturday (June 1), some new projects which had mainly used tender sales before launches houses again by prices list. However, feature houses with platform or the rooftop in 200-300 sq ft are still being put on sale by tendering due to the unlimited area on feature houses.

Kowloon Development’s One East Coast in Yau Tong which had used tender sale in early changed to sell small-size houses by price list, and it additional launched 87 standard flats in area of 283-425 sq ft yesterday at prices of HKD6.367-1.0158 million. The terms of immediate mortgage payment and discounts in previous price list including discount of 10.75% are all deleted, with only stage payment plan base in list price left, which means the prices on the prices list are actual sale prices, while the parking discount on designated parking spaces and complimentary appliances and furniture are reserved, also the sales will start on this Saturday.

14 featured houses start to invite tenders since this Saturday.

However, the project also launches 14 feature houses to invite tenders from this Saturday, which in areas of only 243-576 sq ft, and they are still qualified to be put on sale by tendering because they are feature houses including platform or garden. Upper East in Hung Hom of the same series will put on sale 12 houses this Saturday.

The general manager of marketing and sales department of Kowloon Development, Yang Congyong expresses, One East Coast and Upper East additional launch houses by original prices, reflecting the recent transaction prices, and the launch is in line with the latest guidelines of the REDA, also the sales arrangement will be uploaded synchronously with the effective date on June 1, besides One East Coast has sold 545 houses since the end of last year.

Mantin Heights’ 23 large houses invite tenders.

Kerry’s ready project Mantin Heights in Ho Man Tin uploaded the latest sales arrangements yesterday, putting on sale 23 houses in layout of three-bedroom to four-bedroom by tendering, since June 1 to July 31. The proxy marketing director of Kerry, Wu Meishan expresses, Mantin Heights still has the last 54 houses in layout of three to four bedroom from 904 sq ft to 1,477 sq ft, and the tender document has been uploaded to the project website, which detail listing the payment methods and preferences including 180 days fixture date payment, 1+2 preferential loans, 70% of first mortgage from designated finance company, and 20% of the highest second mortgage from developer, besides the 1+2 mortgage is 80% of the highest.

The other is the 730-day fixture date payment, that customer will enjoy live before pay and a 4% discount on early repayment of the total property price, if they pay 10% of the property price within two months after the signing the temporary contract . Buyers of such houses are qualified to purchase one parking space at value of HKD3.8 million.

The executive director of Kerry, Zhu Yepei expresses, Mantin Heights still has 54 large-size houses in layout of three-bedroom to four-bedroom, and they will use property hoarding policy and entrusted to Centaline Property as the exclusive agency. He points out that, this project has sold 70 houses in this year taking in HKD3 billion, and The Bloomsway in Tuen Mun has sold nearly 30 houses this year taking in HKD1.1 billion, with large-size houses or villas in about 1,400 sq ft are left, which will be put on sale in the second half year, also Mont Rouge has sold 2 houses, and they may launch large size houses for tender sales.

He believes, it is understandable that the trade war has short-term psychological impact on the property market, but the property market will be in good trend for long term, especially the supply of luxury homes in the next three or four years will decrease, the performance of which is believed will be better than the leading market, and the property prices in this year will have a 10% increase by prediction.
The Horizon II increases prices of 246 houses.

Billion’s The Horizon II in Pak Shek Kok, Tai Po raised by 1% to 5% of the prices of their 246 houses yesterday. The project and sales planning director of Billion, Pan Zhicai expresses, The Horizon II has sold 703 houses since it was launched in last month, and they raised the prices of current on sale houses because there are many customers focus to it.

He continues, Billion has always been legal and transparent in its sales strategy, without any established sales model, and the Group supports the guidelines and requirements that are conducive to the healthy development of the property market, also pleased to see the introduction of clearer bidding sales guidelines, and make relevant adjustment in the bidding documents to match it.

Solaria additional launches 141 houses at original prices.

As for K.Wah’s Solaria in Pak Shek Kok, Tai Po, it additional launches 141 houses in areas of 226-910 sq ft at discounted prices from HKD4.747 million to HKD17,389 million, with the sq ft prices at HKD16,231-23,907. The project also adds two new payment methods, including a 90-day cash discount payment plan and a 100-day backup second mortgage payment plan. 38 houses among will be put on sale on this Saturday.

Translated by 28Hse.com . All right reserved.