Property big sale is unimpeded by political situation; Billion takes the advantage to additional launch houses.
(By Leong Yuet Kam)
Demonstrations in Hong Kong continue to cause a downturn in the social atmosphere. Developers stimulate citizens to buy property by low prices. Aurora in Tsuen Wan put on sale the first batch of 354 units on last Saturday and quickly sold out, plus Hong Kong Stocks have rebounded over one thousand points in the past four days, so yesterday Billion additional launched 216 units including open style to platform feature units at average sq ft price of HKD20,486, and under the maintaining maximum discount of 7%, the discounted average sq ft price is HKD19,052, an increase of 7.4% compared to the discounted average sq ft price of the first batch announced two weeks ago, also the discounted lowest property price is HKD3.998 million. The application will start today, and close at 4pm tomorrow, while the sale will be held publicly this Saturday.
The Director of Development and Project Planning and Sales of Billion, Poon ChiChoi expresses, Aurora in Tsuen Wan yesterday additional launched 216 units including 201 standard units of open styles to three-bedroom and one suite plus with storage room in areas of 217-803 sq ft, and 15 platform feature units in areas of 217-669 sq ft, besides the average sq ft price is HKD20,486 with the discounted average sq ft price at HKD19,052, while the pricing in the new batch is adjusted according to different floors and landscapes.
Billion has confidence in potential customers.
He continues, there are many potential customers in Tsuen Wan West due to the lack of quality residential buildings in this district, and the Group continued to additional launch at preferential prices, with the discounted lowest price among the additional launched units yesterday at HKD3.998 million, also they are confident in the sales of Aurora this Saturday.
According to the price list, these 216 units include open style, one-bedroom, two-bedroom, three-bedroom one suite with storage room, and platform feature units, and the prices are HKD4.299-16.735 million, while the discounted prices are HKD3.998-15.564 million under the maintaining maximum discount of 7%. Among the newly launched units, there are 77 ones at discounted prices of less than HKD6 million, accounting for 35.6% of the whole batch. Only one unit is at a discounted price under HKD4 million, and it is room B on the 8th floor of Block 2 in an area of 217 sq ft at a discounted price of HKD3.998 million, with the discounted sq ft price at HKD18,424. As for room J on the 32nd floor of Block 2, it is 284 sq ft and at a discounted price of HKD6.22 million, with the discounted sq ft price at HKD21,901, challenging the latest highest sq ft price of the project.
Takes room B on the 31st floor of Block 2 additional launched yesterday as example, it is open style in 217 sq ft and at HKD4.848 million, comparing with the downstairs room B on the 30th floor of Block 2 which was HKD4.661 million on August 6th, it is higher by HKD0.187million or up to 4%, while the actual price increase is about 3.5% deducting the floor factor.
The number of stock houses hit a 10-month low.
In addition,the Senior Co-director of Centaline Research Department, Woo LeungSing points out that, in July, there were 7,888 units of various stock new properties in the four districts of Hong Kong, and the stock houses reduction was concentrated in the New Territories West District, 646 units by month. The numbers of stock houses in four districts ended the situation of above 8,000 units for 9 months, setting a 10-month low. It is reflected that the situation in July was not stable, so developers actively reduced the houses stock and slowed down the sales of new property.
In the same period, the total number of new house stock in Hong Kong fell by 578 units monthly, mainly from small and medium-sized units. Class A (in or under 430 sq ft) decreased 498 units per month, Class B (431-752 sq ft) decreased 255 units per month, Class C ( 753 -1,075 sq ft) decreased 24 units per month, and Class D (1,076 -1,721 sq ft) and Class E (above 1,722 sq ft) together increased by 199 units. Among them, for the number of stock new houses, Class B has 2,715 units, Class C has 1,910 units, Class A has 1,651 units, and Class D and Class E together have 1,612 units.
