Many projects launched houses together, and 548 units have been sold in 5 days. Seaside Sonata launches more and will put on sale this Saturday.
Hong Kong Wen Wei Po (By Leong Yuet Kam)
Government’s relaxation of property price upper limit under the mortgage insurance plan and the expectation that the Sino-US trade will reach an agreement drive up the property market atmosphere. Many projects compete to launch houses to the market, and about 548 units of first-hand property have been sold in Hong Kong in the past 5 days. China Evergrande’s Emerald Bay Phase 1 in So Kwun Wat, Tuen Mun has put on sale the first stage of 325 units since the day before yesterday. The market source points out that in two days this project has sold 229 units, accounted for 70% of the first stage of sales. On the other hand, Seaside Sonata developed by Cheung Kong and URA in Cheung Sha Wan additionally launched 88 units yesterday and will put on sale 176 units this Saturday, 64 units among will be put on sale by bidding. Road King Properties’ Ccrescent Green in Yuen Long will offer prices next week at the soonest, and the sales will start within November.
From the day before yesterday, Emerald Bay Phase 1 has put on sale the first stage of 325 units for two days and continued to sell the remaining 158 units yesterday morning after 167 units were sold on the day before yesterday. The prospective buyers registered in the sales office in China Evergrande Center, Wan Chai yesterday morning. According to the source at the site, about 100 groups of buyers arrived at 10:00 am yesterday, and the developer drew lots on the site to decide the order of picking houses. Source points out that, this project sold 62 units yesterday, and the sales slowed down, with a sales rate of only 39%.
There is a market for renting. Senior executives of Centaline enter the market.
Since this project’s 325 units that had been put on sale for two days are all under the discounted price of HKD6 million, many agents are attracted and enter the market. The Senior Branch Manager of the second branch in Century Gateway Phase 2 of Centaline Property in Tuen Mun, Chung Wang-yuen spent HKD5.93 million to buy one middle-rise room C in block 1A of Emerald Bay for self-occupation the day before yesterday, with layout in two-bedroom, and he chose C3 construction period payment plan provided by the developer.
The Senior Branch Manager of the second branch in Century Gateway of Centaline Property in Tuen Mun, Chow Hin-Kwong also bought one low-rise room E in block 2 for about HKD5.3 million, with the layout in one-bedroom. He points out that, he loves the advantageous location of So Kwun Wat, where will be opened to traffic to Tuen Cek in the future, so it is predicted flight crews and Tuen Mun citizens will move into So Kwun Wat, then the renting will be improved, plus developer provides tax incentives and flexible payment methods, so the purchasing is for long-term investment.
The markup for Seaside Sonata’s 25 units is 1.5% of the most.
On the other side, yesterday, Seaside Sonata developed by Cheung Kong and URA in Cheung Sha Wan additionally launched 88 units distributed in the 2nd, 3rd and 5th blocks, with the usable areas of 474-507 sq ft and the sale prices at HKD9.723-12.471 million, and the discounted prices are HKD7.584-9.727 million after deducting the highest discount of 22%. The developer confirmed to put on sale 176 units this Saturday, of which 64 units will be put on sale by tender, and the tendering units are distributed in Blocks 3 and 5.
The No. 3 and No. 4 price lists also were modified, increasing the prices of 25 units among by 0.28% to 1.5%. Room D on the 28th floor of block 2, with the area in 723 sq ft, has the highest markup of up to 1.5%, increasing the price in the price list from HKD17.035 million to HKD17,291 million. In addition, according to the No. 4 price list, there was 0.5% discount for choosing construction period payment plan A and B, which were canceled at the latest. However, the project will also add a special discount for construction period payment plan at the same time, that is, buyer will receive an extra 2% discount.
One Eighty additionally launches 27 units and will put on sale 53 units on Saturday.
One old developer Lam Family’s One Eighty in Shau Kei Wan also additionally launched 27 units yesterday, with usable areas in 164-332 sq ft and sale prices at HKD4.65-16.222 million also the discounted prices at HKD3.813-13.302 million after deducting the highest 18% discount, and the sale prices of all 57 units of this project had been offered, besides developer decided to put on sale 53 units this Saturday.
Ccrescent Green in Yuen Long will offer prices next week of the soonest.
The Sales and Marketing Director of Road King Properties, Chung Choi-ling yesterday expressed, Ccrescent Green in Kam Tin North, Yuen Long will open sample flat and offer the first price list next week of the soonest, and the sales will likely start in November, besides the first batch will not less than 67 units that will be mainly three-bedroom, also the pricing will refer to the property prices of on top projects along West Rail and quality project in the same district.
The Regional Director of Road King Properties, Chu Kwok-Kit points out that, the plot ratio of this project is only 1.2 times and the green area covers over 30%, so it is in low-density development, with most units heading east or south. Ccrescent Green has a 100,000 sq ft double clubhouse, providing a 25-meter heated swimming pool, independent gymnasium and so on.
For the government to release the property price upper limit under the mortgage insurance plan, Chung Choi-ling believed that under the new measures, both the first-hand and second-hand markets would be active in the near future, and the measures would help to start the chain of changing houses. She also pointed out that the future property market will be steady due to the low supply and high demand for housing plus with the low interest rate environment in Hong Kong.
Ccrescent Green has 331 units. The tiered units are in layouts of open style, two-bedroom, and three-bedroom. The standard three-bedroom and feature flats are 258 units, accounting for 78% of the total, with the usable areas in 657-1,012 sq ft. Open style and two-bedroom each have 22 units, with the usable areas in 300 and 501 sq ft respectively. In addition, the usable areas of 29 villas are 2,101-3,889 sq ft. The project is expected to have a key date of March 31, 2021.