Developers rush for launching many new projects before the Lunar New Year. Mainland real estate company Vanke (Hong Kong)’s 15 Western Street in Sai Ying Pun put on sale the first batch of 50 units this afternoon (10th). The market source points out that until yesterday when the application ended the project had collected over 260 applications, an over-subscription of more than 4 times. On the other side, Henderson Land's The Richmond, Robinson Road, Midlevels West, plans to offer the prices this weekend, and the developer forecast that the discounted prices for some units are less than HKD8 million, so buyers of them can apply for 90% of mortgage, that is, purchasing houses in Midlevels West only needs down payment in 10%.
(By Leong Yuet Kam)
The Proxy Sales Department (Two) Department General Manager of Henderson Property, Hon Ka-fai expresses, The Richmond in Robinson Road with pre-sale period of about 23 months will offer prices this weekend of the soonest and will open the sample flats since Sunday, besides the first prices list includes at least 30 units mainly open style and one-bedroom units with sale prices referring to that of new projects in Midlevels West and Sai Wan, also they will close to the market prices with the discounted lowest prices for some units less than HKD8 million, which means buyers of them can apply for 90% of mortgage, and the sales will start before the Lunar Year.
The Richmond provides 90 units, with 40 units of open style and 40 units of one-bedroom, and the smallest units (feature unit with platform) are in usable area of 181 sq ft, also it is estimated to be the smallest first-hand property in Midlevels West of recent years, while the usable area for the largest unit in two-bedroom is 468 sq ft. He says the sq ft management fee for this project is HKD5.78.
Besides, SHKP's Wetland Seasons Park in Tin Shui Wai will put on sale the last 335 units tomorrow, and the application for 331 units in public sale among also closed yesterday, with 5,500 applications which are over-subscription of 15.6 times being collected according to the market source.
IL PICCO in Discovery Bay firstly launched 5 villas for tenders.
Luxury new projects also enter into the market. Hong Kong Resort International Limited’s IL PICCO in Discovery Bay firstly launches 5 villas for tenders, and they will be put on sale in daily tenders from May 15 to May 31. The Sales and Marketing Assistant General Manager of Hong Kong Resort International Limited, Chen Sau-chun expresses, the prices of IL PICCO will refer to that of villas in Hong Kong Island and Kowloon, and there is the first time to sell villas in Discovery Bay after 2002, so it is believed the sq ft prices of some villas may be the new high in the district.
Chen Sau-chun expresses, IL PICCO has 21 villas and firstly launches 5 including No. 3,5,9,10 and 11 villas, and the former 4 are in layout of four-bedroom four-suite in usable area of 2,023 sq ft joining a private garden in area of 2,831-3,155 sq ft, while No.11 villa is four-bedroom three-suite with living room in usable area of 2,171 sq ft joining a private garden of 2,992 sq ft. Developer provides buyers with Cash Payment Plan and Construction Period Payment Method, and provide first mortgage at 85% of the property price in maximum, with the interest rate for the first two years at P-2.5% (P is 5%) and after at P, while the second mortgage is 30% of the property prices of this highest, with the interest rate for the first two years at P-2.25% and after at P At the same time, every buyer who purchases villa in IL PICCO can get a licensed golf cart worth about HKD2 million from the developer. She also reveals that she is discussing with the Discovery Bay Golf Club to let owners in IL PICCO to enjoy the facilities of the golf club by paying the monthly fee.
Chen Sau-Chun points out that as the social movement has become calm, the property market is expected to be stable this year, and Luxury homes are in positive trend due to the less supply, so it is expected that luxury property prices will increase by about 5% to 10% this year, besides the Group will mainly put on sale IL PICCO, Poggibonsi and La Cresta in Kau To, Sha Tin this year, also Poggibonsi among has sold 76 units cashing out HKD925 million.
A large buyer spent over HKD100 million to buy 3 units in ONTOLO.
Great Eagle’s ONTOLO in Pak Shek Kok, Tai Po again recorded transaction of large amount. The market source points out that one group of customers successively purchased 3 units in ONTOLO by tendering, with the total transaction price for above HKD101.1 million, and they are room A, B, and C on the 10th floor of block 2 in usable areas of 1,079-1,739 sq ft, with the transaction prices at HKD17.372-42.265 million and the sq ft prices at HKD16,000-24,300, besides it is known that buyer need to pay 15% strict tax for 2 units among involving about HKD8.82 million.
No.1 detached house including double parking spaces in Chinachem’s THE PAPILLONS in Tsueng Kwan was successfully sold for HKD64.62 million by tenders, with the sq ft price at HKD24,040, and the sale price is the new high of the project. No.1 detached house is in area of 2,688 sq ft and layout of four-bedroom four-suite, including a garden terrace of 747 sq ft and a platform of 482 sq ft.
Besides, New World is actively preparing for the sale of 8 Kwai Fong Street, Happy Valley, with a total of 156 units, and it is an old lease project which will likely be launched in the first and second quarters of the soonest. According to the market source, the agency disclosed that there is a customer intends to buy the entire project.
