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Hong Kong Property Market - Yr.2020 Aug: Average price per sq feet $11577 2.4%   (last month:$11862)
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Cullinan West III receives over 500 applications, an over-subscription of 1.1 times.

Hong Kong Wen Wei Po (By Leong Yuet Kam)

SHKP’s Cullinan West III on top of Nam Cheong Station started to collect application yesterday, and market source points out that, over 500 applications were received on the first day, an over-subscription of 1.1 times base on the 235 units in the first price list.

At the time of Cullinan West III collecting applications, the same series project Cullinan West also additionally launches 36 units all locating at low-rise building, and the discounted average usable area sq ft price is about HKD26,000 after deducting the maximum discount of 21%, besides the unit has the cheapest sale price and sq ft price is room B on the 6th floor of block Yat Zyun Wui, which is in usable area of 1,624 sq ft and at HKD46.87 million, and its discounted price is HKD37.02 million, with the discounted usable area sq ft price at HKD22,800; The unit has the highest sale price and sq ft price is room A on the 16th floor of Yat Zyun Wui, which is in usable area of 1,896 sq ft and at HKD78 million, and the discounted sale price is HKD61.62 million, a new high of the project, with the discounted usable area sq ft price at HKD32,500, besides the unit will be put on sale after decorated.

Double Cove Grandview may provide rental return guarantee.

On the other hand, the General Manager of Sales Department (1) of Henderson, Lam TatMan expresses, Double Cove Grandview in Ma On Shan had sold one Hoi Tin Ming Tai mansion of room A on the 26th floor of block 6 at about HKD27.61 million, and they may provide rental return guarantee plan in the short term to respond to investors' needs. The President of Ricacorp, Liao WaiKeung express to give travel discounts as gift to the first three buyers of this project from now on, with a total value of HKD150,000.

He also said that the same series project The Vantage in Hung Hom sold 20 units on this Monday, cashed out HKD106 million, with the average transaction sq ft price at HKD22,000, and this project has sold 514 units since the beginning of this year, cashing out about HKD3 billion, besides the sales arrangements will be announced next week at the soonest. He points out that the Group's new villa project (a total of 16 villas) in Tong Yan San Tsuen, Yuen Long is likely to be put on sale within this year.

The Real Estate Developers Association has expressed its support for the suggestion that Government quoting ‘Land Resumption Ordinance’ to build public housing on farm land, and their company also supports.
Translated by 28Hse.com . All right reserved.