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Hong Kong Property Market - Yr.2020 Jul: Average price per sq feet $11651 0.88%   (last month:$11754)
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Wetland Seasons Park Collects 5,400 Applications and Will Additionally Launch Depending on Sales Status.

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Hong Kong Wen Wei Po (By Leong Yuet Kam)

The first-hand property sales on New Year's Day in 2020 were dull. The market source points out that only 6 units of first-hand properties in Hong Kong were sold yesterday. Wetland Seasons Park which is confirmed to be put on sale this Saturday had collected 5,400 applications until last night. The Vice Managing Director of Sun Hung Kai, Lui Ting yesterday expressed that the application is ideal and the company will additionally launch more depending on the sales status on Saturday.

Lui Ting said, Wetland Seasons Park in Tin Shui Wai will put on sale a total of 381 units this Saturday, of which 375 units are tiered houses to be sold by public sale, and the remaining 6 villas will be put on sale by tender. The applications will be closed at 8 o'clock tonight. The market source points out that, by last night it had collected 5,400 applications, an over-subscription of 13 times based on the 375 units being put on sale by the public. He also pointed out that this project additionally launched 128 units the day before yesterday, with the discounted average sq ft price of HKD12,756, which is the original price level, and 40% among are feature units.

The sales will start on Saturday, and big customers can buy 6 units at most.

The Deputy General Manager of SHKP, Wo Chi-yuen expresses, this project will start the sales at 8:45 am on Saturday, and will divide into Group A and B for house selection, besides Group A has the maximum limitation of 120 units and requirements that Group A1 and A2 buyers buying 2-6 units including specified unit also Group A3 buyers need to buy 1 specified three-bedroom unit; while Group B buyers are restricted to purchase a maximum of 2 units.

He also says that the first round of 381 units that will be put on sale this Saturday include layouts of two-bedroom to four-bedroom, with the discounted sq ft prices for 375 units which will be put on sale publicly from HKD9,988 to HKD16,915. The cheapest unit is in layout of two-bedroom and at discounted price of about HKD4.83 million based on the cash payment plan, and the unit at the highest selling price is a top floor compound apartment with rooftop, with the discounted price of about HKD17.4 million, besides the market value of these 375 tiered houses is about HKD2.94 billion based on the prices on list.

One Kai Tak (II) sold two compound apartments in succession for HKD120 million.

In terms of first-hand property transactions, China Overseas' One Kai Tak (II) sold compound apartments in succession. The market source points out that the buyers are the same group of customers, who bought two low-rise compound apartments on 1ts and 2nd floors and 3rd and 5th floor of block 16 for a total value of HKD120.7 million, with the sq ft prices both at HKD25,000.
Translated by 28Hse.com . All right reserved.