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Vanuatu Citizenship Mainland Customer Spends Nearly Hundred Million HKD to Buy House in Mont Rouge.

Image Caption
2019-06-18-(Tue)
【28Hse.com】  
Tiered house including platform is more than HKD300 million, and the sq ft price is HKD101,000, the top in Kowloon.

Hong Kong Wen Wei Po (By Liang Yueqin)

The Sino-US trade war has not blocked the mainland customers to buy luxury house in Hong Kong under strict tax. In the middle of last month, a buyer spent HKD307 million to buy the rooftop feature house room A on 7th floor of block 2 of Mont Rouge in Kowloon developed by Kerry, with the sq ft price of HKD101,800 being the top among the tiered houses in Kowloon, and this buyer was exposed to be a mainland customers holding Vanuatu citizenship buying the house by company name, so the tax for Buyer Stamp Duty and Double Stamp Duty was 30 percentage of the property price which was up to nearly 100 million HKD.

According to the Land Registry, buyer bought this rooftop feature house room A on 7th floor of block 2 in Mont Rouge by registration name of Guangji Co., Ltd, that is, the buyer is required to pay 30 percentage of the property price for the Buyer Stamp Duty and Double Stamp Duty involving up to HKD92.1 million, and the company director is WANG SHUIMING with the registered address in Xiamen City, Fujian Province, besides the passport of this director is issued by Vanuatu.

According to the data, it is a house in layout of four-bedroom with suite in area of 3,017 sq ft, joining with rooftop in 2,111 sq ft, platform in 91 sq ft and atrium garden in 380sq ft, and the transaction price was HKD307 million including two parking spaces, leading the sq ft price to HKD101,800, a new high in Kowloon. According to the bidding documents, the monthly management fee of the house is HKD26,139, with the sq ft fee at HKD8.7 yuan. The Republic of Vanuatu is located in the southwestern Pacific Ocean and had been voted to be the happiest countries in the world.

It is suspected that the president of Hongfa company LAI NGOK FOON purchased house in The Bloomsway.

The same series project The Bloomsway in Tuen Mun is also popular among mainland customers. According to the Land Registry, the double number villa of The Bloomsway in Tuen Mun in area of 2,865 sq ft, including platform of 183 sq ft, garden of 1,488 sq ft, parking space of 527 sq ft and rooftop of 957 sq ft was sold at HKD83.085 million with the sq ft price at HKD 29,000. The registered buyer is LAI NGOK FOON. It is the same name as LAI NGOK FOON, the president of Shenzhen Hongfa Group.

Another single number villa of the same project in area of 2,865 sq ft, including platform of 183 sq ft, garden of 1,454 sq ft, parking space of 527 sq ft and rooftop of 957 sq ft was sold at HKD83.085 million with the sq ft price at HKD 29,000. The registered buyer is LAI FUN WAI.

According to the data, LAI NGOK FOON and LAI FUN WAI had spent HKD95.55 million and HKD94.37 million in July 2015 respectively to purchase room A on high floor of block 6 of Ultima in Ho Man Tin, and both are in area of ​​2,018 sq ft.

The application for Mount Regency II has been 1,200 cases.

The application for two new projects in New Territories West turns hot. Source pointed out that, SHKP’s Mount Regency II in Tuen Mun has collected over 1,200 applications, an over-subscription of 10 times base on the 108 houses in the first price list. New World's ATRIUM HOUSE in Yuen Long has received more than 400 applications, an over-subscription of 2.6 times base on the 110 houses in the first price list.

Top floor house room B on 32nd floor of SHKP’s new project in Midlevels West was immediately sold after being launched on the first day of the sale. This is a three-bedroom house in ​​607 sq ft being sold at HKD22.1567 million with the sq ft price at HKD36,502; SHKP’s Victoria Harbour in North Point yesterday sold the one-bedroom house room B on 19th floor of block 5A in area of 378 sq ft at HKD17.1396 million, with the sq ft price at HKD45,343.

A buyer gave up the top floor house in The Horizon.

On the other side, cases of forfeiture of deposit continue to appear. A buyer gave up the top floor feature house in Billion’s The Horizon in Pak Shek Kok, Tai Po. According to the transaction record, a buyer spent HKD10,381 million on the 10th of this month to buy the top floor room A including rooftop on 2nd floor of COURT C, which is two-bedroom house in area of 549 sq ft, but finally the order was canceled, and the deposit of 5 percentage, that is, more than HKD519,000 was lost.
Translated by 28Hse.com . All right reserved.