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Hong Kong Property Market - Yr.2019 Oct: Average price per sq feet $11087 1.03%   (last month:$10974)
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Property Market Is Booming under Low Pricing; 595 Units from New Projects in Three Urban Districts Will Begin to Compete within the Week.

Image Caption
2019-09-24-(Tue)
【28Hse.com】  
Upper River Bank additionally launches properties by original prices; One.ArtLane adds rebates for selling more.

Hong Kong Wen Wei Po (By Leong Yuet Kam)

New projects offering low prices make the property market to boom, and totally 595 units from new projects in three urban districts will compete within the week. Upper River Bank in Kai Tak developed by Longfor Properties and KWG Property additionally launched 90 units at original prices yesterday, with the discounted average sq ft price at HKD25,248, and the discounted lowest price for one-bedroom unit in 334 sq ft is HKD7.352 million, also this project confirmed to put on sale 218 units on this Friday. Henderson Land’s One.ArtLane which is just occupied in Sai Ying Pun also additionally launches 25 units, and put on sale 25 units on Friday, with the discounted lowest price for open style unit at HKD6,796,790, also adds cash rebate of HKD208,000-248,000 to sell faster; The application for the second batch of 352 units of Cullinan West III developed by SHKP and MTR will be closed tomorrow, and the sale will be put on Thursday.

According to the price list additionally launched by Upper River Bank yesterday, these 90 units are located from the 5th to the 38th floor of block 2, with usable areas in 332-752 sq ft and sale prices at HKD8,965,900-26,748,800, and the average sq ft price is HKD30,790, besides the discounted prices are HKD7,352,000-21,934,000 leading the discounted average sq ft price to HKD25,248 after deducting the highest 18% discount.

Upper River Bank has collected 550 applications.

The Marketing and Sales Director (Hong Kong and Overseas) of KWG Property, Cheong SzeWan expresses, Upper River Bank additionally launched 90 units yesterday in layouts from one to three bedroom with the sq ft prices at HKD26,844-35,570, and the discounted sq ft prices are HKD22,012-29,168 after deducting the highest 18% discount. The first two price lists totaled 228 units, with an average sq ft price at HKD30,093, and the discounted average sq ft price is HKD24,677, besides the market value base on the price list is more than HKD3.5 billion.

The Project Marketing Director of Hong Kong Longfor Properties, Woo SuiHung discloses, the prices for the additionally launch of Upper River Bank yesterday are original prices, and only a small number of units are adjusted by about 1-2% on prices due to the higher floors, also this project confirmed to put on sale 218 units on this Friday, with large customers in Group A at least buying two units and individual customers in Group B can buy one to two units. Source points out that, as of last night, more than 550 applications had been collected, and some are from large customers and a small number of corporate customers. Cheong SzeWan expresses, this project is not intended to launch large unit for bidding at this stage.

Cullinan West III provides double discounts to attract customers.

The Acting Deputy General Manager of SHKP, Tong KamKong expresses, the ready sample flat of Cullinan West III on top of Nam Cheong Station has reopened to the public at 10 am yesterday. The application for the second round of 352 units will be closed tomorrow, and nearly 4,300 registrations of purchase intention had received as of 2pm yesterday, and there are about 300 cases of newly registrations, with large customers from Group A accounting for about 20%. He says, they will additionally launch properties before this weekend at the soonest depending on the sales of the second round of 352 units on this Thursday, and there will be mark ups of 2-3% for the one-bedroom and two-bedroom units among.

In order to attract buyers, the Managing Director of SHKP Club, Tse ManGyun expresses, SHKP club will provide double discounts to Cullinan West III buyers, and SHKP club members will enjoy a 1% discount on the sale price by purchasing the Cullinan West III unit by the end of October; And SHKP club members who have praised the Facebook page of "Cherish, Love your Family” and have submitted the purchase intention will receive a cash coupon of HKD100, with quato of 5,000 and a total value of HKD500,000.

One.ArtLane additionally launched 25 units.

Henderson Real Estate has accelerated the clearance sale of ready properties, and its newly-occupied project One.ArtLane in Sai Ying Pun additionally launched 25 units yesterday, including open style to two-bedroom units at discounted prices of HKD6,999,520-15,149,460, and confirmed to put on sale 25 units on Friday including open style to two-bedroom units at discounted prices of HKD6,796,790-15,149,460, with the discounted sq ft prices at HKD29,538-35,984.

The developer intends to give a cash rebate of HKD208,000-248,000 to buyers that purchasing the designated residential properties from this Friday to October 31.
Translated by 28Hse.com . All right reserved.