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First-Hand Property Sales Are Suppressed. La Salle Residence Only Sold 10 Units on the First Day.

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Hong Kong Wen Wei Po (By Leong Yuet Kam)

Hong Kong stocks have fallen sharply and the first-hand property sales are tested under unclear prospects for Sino-US trade and the continued violent shocks in Hong Kong. Mainland real estate company Fullsun’s project in La Salle Road, Ho Man Tin, La Salle Residence, which had temporarily suspended the sales due to market conditions changes at the end of this July and relaunched houses with disguised form markup of 13.75% by increasing discounts last week, put on sale again the first batch of 30 units as usual yesterday, but it only sold 10 units on the first day according to the project transaction record with the sales rate in 33% and cash out nearly HKD90 million. 28 first-hand property units were sold in Hong Kong Yesterday, while 1,059 first-hand property units in Hong Kong had been sold in the first 11 days of this month.

The highest transaction price was HKD11.59 million.

La Salle Residence in La Salle Road, Ho Man Tin had launched the first batch at discounted average sq ft price of HKD31,271 in this July, leading it to be the first-hand housing project in Kowloon had the highest sq ft price for the first batch, but the sales scheduled at the end of July was temporarily suspended due to changes in market conditions. Developer Fullsun relaunched the first batch of 30 units in La Salle Residence at 11 am yesterday with disguised form markup of 13.75% by increasing discounts last week. The usable areas are 260-419 sq ft, the prices are HKD7.989-17.466 million, and the discounted prices are HKD6.311-13.798 million after deducting the current maximum discount of 21%.

According to the La Salle Residence transaction record book, yesterday, it sold 10 units at prices from HKD6.311 million to HKD11.591 million, with the sq ft prices between HKD23,699 and HKD27,663. The house at the highest transaction price is room A on the 7th floor in a usable area of 419 sq ft and in the layout of tow-bedroom, and its transaction price was HKD11.591 million, with the sq ft price at HKD27,663.

Ccrescent Green will put on sale 82 units on Friday.

On the other hand, K.Wah International's K⋅Summit in Kai Tak was scheduled to hold a press conference and opened the sample flats to the media yesterday, but it needed to reschedule due to traffic congestion in various districts yesterday.

Road King Properties’ Ccrescent Green in Yuen Long announced yesterday to put on sale the first batch of 82 units on this Friday, and the 67 units involved in the first price list that was announced last week will be put on sale in the form of public offerings, applications for which will be closed this Thursday, then in this Friday draw lots will be arranged to decide houses selecting order, also the house selecting will immediately start after that. The market source points out that until last night it had received 198 applications, an over-subscription of 1.95 times; There will be another 15 units put on sale by tenders, and the applications will be closed day by day since this Friday.

Monti increases discounts and introduces furniture coupons.

Monti developed by Lai Sun Development and URA in Shau Kei Wan increased discounts to attract customers, including changing the 180-day cash payment plan into 90-day cash payment plan, increasing discount from 8% to 10%, increasing the discount for construction period payment from 4% to 7%, and introducing furniture coupon, also buyers can choose IKEA furniture coupon or discount of sale price both valued of HKD60,000.

Alto Residence developed by Imperial Group and Lai Sun Development in Alto Residence, Tsueng Kwan launches No.17 villa for tenders, and the application will be closed this Friday. This villa is in a usable area of 2,270 sq ft, and has a garden in 561 sq ft also includes rooftop in 673 sq ft.
Translated by 28Hse.com . All right reserved.