Hong Kong Wen Wei Po (By Ngan LunLok)
The continuous social disputes have not stopped the pace of developers’ project launching. Billion’s Aurora in Yeung Uk Road, Tsuen Wan uploaded brochure yesterday, and the market predicts it will announce prices and put on sale next month of the soonest. According to the brochure, the project consists of three residential buildings and one commercial building, providing 840 units in layouts of open style to five-bedroom, and the areas for standard flats are 217-859 sq ft, with the smallest open style flat among is only in usable area of 217 sq ft, the smallest in Tsuen Wan of recent years. In addition, there is new project stopping sales arrangement, which is rare in recent years. According to the Sales of First-hand Residential Properties Electronic Platform, mainland developer Fullsun’s single building project La Salle Residence in Ho Man Tin stopped the sale that was scheduled at 9:30am this morning (26th) for 30 units.
Aurora not only provides standard units but also feature units including top floor, compound apartment with garden or platform in usable areas from 217 sq ft to 2,022 sq ft. The project is expected to be completed in April next year, with a pre-sale period of about nine months.
In addition, Hanison Construction’s luxury project MOUNT VIENNA in Sha Tin latest sold compound apartment room B on 7th-8th floor at HKD94.4 million, with the usable area sq ft price at about HKD36,238, and the flat is in usable area of 2,605 sq ft joining platform in 1,145 sq ft. MOUNT VIENNA provides 12 units, all of which are large flats above 1,645 sq ft, and 11 units have been sold until now, remaining the last compound apartment on low floor to be on sale. Both the sale price and sq ft price are the same to that of room A on the same floor, and the highest of the project.
ONTOLO has collected 2,500 applications, an over-subscription of 9.5 times.
Meanwhile, Great Eagle’s ONTOLO in Pak Shek Kok, Tai Po will put on sale 238 units on Saturday (27th), according to the sales arrangement, there will be group A and group B, and group A buyers can buy at least 5 units with at least 1 among is selected unit. Group B is for individual customers, who can buy 2 units at the most. Developer points out that, over 2,500 cases of letter of intent had collected by Wednesday, an over-subscription of about 9.5 times. Among group A has about 550 applicants, and group B has about 1,900 applicants.
It is known that ONTOLO launches 150 units in the first price list, with the layouts in one-bedroom and three-bedroom, and the usable areas are 389-1231 sq ft, besides the discounted average sq ft is HKD13,567 after deducting the highest discount of 21%. The cheapest unit is Room D on the 1st floor of block 6A, with a usable area of 396 sq ft, and the discounted lowest price is HKD5.536 million with the sq ft price at HKD13,980.
ONTOLO then additional launched 100 units, with the prices at about 6% higher than that of the first batch; the discounted sale prices are HKD5.603 million to HKD22.093 million, with the discounted sq ft prices at HKD12,208-17,947, and the average discounted sq ft price was HKD14,387. ONTOLO provides 723 units in 357-3,098 sq ft. It is expected the occupation will be at the end of July next year.
La Salle Residence stopped the sale possibly because the application was bad.
In addition, there is new project stopping sales arrangement, which is rare in recent years. According to the Sales of First-hand Residential Properties Electronic Platform, mainland developer Fullsun’s single building project La Salle Residence in Ho Man Tin suddenly stopped the sale that was scheduled at 9:30am this morning (26th) for 30 units. Insider estimates, this is the first time for Fullsun to sell houses in Hong Kong, but the response was not ideal, so the developer made this decision. It is known, this project had received only about 120 applications as of Wednesday, with an over-subscription of about 3 times.
According to the data, the first batch of La Salle Residence includes 6 units of one-room and 24 units of two-room in usable areas of 260-419 sq ft, and the price are HKD7.989-17.466 million, with the sq ft prices at HKD30,000-41,683, also developer provides discounts in 7.25% of the most, leading the discounted sale prices to HKD7.41-16.199 million and the discounted sq ft prices to HKD27,826-38,661, with the discounted average sq ft price at about HKD31,271. The project only provides one payment method, which is 150-day cash payment plan.