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Hong Kong Property Market - Yr.2020 Aug: Average price per sq feet $11766 0.81%   (last month:$11862)
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Wetland Seasons Park Will Be Put on Sale as Soon as Next Month.

Social atmosphere calms down, and developers scramble to sell properties.

Hong Kong Wen Wei Po (By Leong Yuet Kam)

The social atmosphere in Hong Kong has calmed down, and developers are rushing to launch new projects. The market estimates that at least 2,377 units of first-hand properties will be launched next month. Among them, SHKP, which has won the commercial land king on top of the West Kowloon High-Speed Rail Station for more than HKD42.2 billion days before, announced yesterday that the first phase of its Wetland Park Road project in Tin Shui Wai was named Wetland Seasons Park. The the vice managing director of Sun Hung Kai, Lui Ting expressed, the project is waiting for the pre-sale consent and predicted to be launched and put on sale as soon as mid-December, and it may become the finale new project of the Group at the end of this year, also it is believed that Sino-US trade negotiations are expected to reach a short-term agreement, besides it is a good time to launch new project.

The Acting General Manager of SHKP, Wo Chi-yuen expressed, Wetland Seasons Park will be developed in three phases, providing a total of 1,727 units. Wetland Seasons Park phase one has a total of 710 units, with a stepped design, including 8 blocks of 10-story residential buildings, 4 blocks of 5-story low-rise villas, and 10 western-style houses. The standard units cover layouts of one-bedroom to three-bedroom, with main of two-bedroom units accounting for 69%, and one-bedroom units account for 5.5% while three-bedroom units account for 25.5%, also feature units account for 20% of phase one to meet the needs of the first housing customers and buyers who want to change houses.
He pointed out that the reference price area will be widened since there had been no new project sales in the same district for a long time, and it is believed many units can benefit from the Government's relaxation mortgage insurance measures because the standard units of the project are main of two-bedroom units or smaller. Lui Ting expressed the project is uniquely adjacent to the only wetland park in Hong Kong, in a low-density design with a plot ratio of only 1.5 times.

CENTRAL PEAK may enter the market at the end of next month.

Lui Ting said that the same series project CENTRAL PEAK, 18 Stubbs Road, Mid-Levels East, Hong Kong Island, will be launched at the end of next month or early next year depending on the preparation of the sample flat.

Evergrande . Rui Fung uploaded brochure with the smallest unit in 203 sq ft.

Mainland real estate company China Evergrande’s Rui Fung in Tonkin Street, Cheung Sha Wan uploaded a sales brochure yesterday. The project provides 414 units, including open-style to 3-bedroom layouts in usable areas of 203-758 sq ft, and the smallest unit is room D on the 5th floor of East Wing, with the usable area in 203 sq ft and the joined platform in 181 sq ft . The project is expected to be completed by the end of October 2021, and the pre-sale period is approximately 23 months.

Kai Tak K⋅Summit, which had launched the first price list for 208 units at prices of about 6% lower than market prices days before, started to open the sample flats in North Point to public since 3 pm yesterday. The Sales and Marketing Planning Director of the developer, K.Wah International, Wan Wai-ming expressed, the application for this project will start today, and there is possible of additionally launch with a certain space of markup before the first round of sale next week, besides the transaction sq ft prices of some units in same series project K.CITY in the same district were up to HKD30,000.

He pointed out that K⋅Summit's open-style unit Studio Plus has a sliding door, which is convenient for buyers to set different types of furnitures or turn it into one-bedroom layout at any time. Regarding US President Trump's official signing of the Hong Kong Human Rights and Democracy Act, he considers that this move is more stance than actual impact, and believes it has no direct impact on the Hong Kong property market.

In terms of first-hand property transactions, New World's ATRIUM HOUSE in Yuen Long sold one one-bedroom unit yesterday. The unit is A9 on the 22nd floor in a usable area of 330 sq ft, with the transaction price at HKD5.641 million and sq ft price at HKD17,094. It is reported that the buyer was attracted by the new payment method recently introduced by developers, and buyer only need to pay a deposit equal to 5% of the property price when signing a temporary sale and purchase contract, while the balance can be paid at the time of transaction. The project has sold 229 units so far, taking in more than HKD1.2 billion.
Translated by 28Hse.com . All right reserved.