In recent months, major developers have helped the Government to build intergrade houses by donating or borrowing land to solve the social problem of waiting too long for public housing. The Executive Director of Cheung Kong, Chiu Kwok-hung yesterday expressed, the group's agricultural land reserve is small, but it is a long-term commitment to do more for Hong Kong. The Director of another well-known developer in Hong Kong Hang Lung Properties, Chen Kai-chung pointed out yesterday that Hang Lung Properties has no reserve of agricultural land, so it is unable to donate land, also do not comment on the actions of other developers. As for the trend of the real estate market, Chiu Kwok-hung predicts the property price to rise or fall by 5% this year, while Chen Kai-chung stresses that it is still optimistic in medium and long-term.
(By Leong Yuet Kam, Lai ChiTin)
As for many developers assisting to build intergrade houses by borrowing or donating land, the Executive Director of Cheung Kong, Chiu Kwok-hung expressed when attending the Group’s mall events yesterday that, the group's agricultural land reserve is small, while there are many methods to help the public on their first housing, also it is a long-term commitment to do more for Hong Kong.
The up and down fluctuation in the property market maintains 5%.
Chiu Kwok-hung points out that, China and the United States signed the first phase of a trade agreement today, and Britain's Brexit has also been settled, so it is believed the economy this year will be better than last year, also no factor would caused the property market to plummet, thus it is expected that the fluctuation of the property market in Hong Kong will maintain about 5% this year. At present, the group is rich in funds, so it will take action if good projects are found.
LOHAS Park phase 8 is estimated to be put on sale after the lunar New Year.
As for the recent unevenness sales of first-hand projects, Chiu Kwok-hung believes that it mainly depends on the location and pricing, as well as the payment methods provided by the developers, since projects at reasonable prices can attract more people to buy. He adds, it is easier for citizens to make the first housing after the Government relaxed the mortgage insurance, and the most important thing for developers is quick turnover, launching the properties as soon as it is ready. He continues to point out that Cheung Kong's next new project will be LOHAS Park phase 8 SEA TO SKY, which is awaiting approval for pre-sale consents and is expected to be launched after the lunar New Year. The property prices of luxury properties in Borrett Road 21, Midlevels West are over HKD100 million, and they are currently in the process of tree planting, besides it is predicted to be launched at the end of the first quarter or the beginning of the next quarter.
According to the data, the SEA TO SKY provides 1422 units, and the key date is expected to be June 30, 2021. Borrett Road 21, Midlevels has 5 buildings including 181 tiered houses. The phase 1 involves three buildings, providing 115 tiered houses.
Also, Cheung Kong's Seaside Sonata in Cheung Sha Wan yesterday additionally launched 98 units at HKD9.796-20.1 million, with the sq ft prices of HKD20,261-28,921, and the maximum discount is 23%. The project stops selling today and will put on sale 178 units this Saturday together with the newly launched units, and 123 units among will be put on sale at first come first served, also 55 units will be put on sale by tenders.
The Executive Director of SHKP, Kwok Kei-fai, who also the member of the standing committee of the Guangdong provincial people's political consultative conference, personal suggests to cut the quota of daily single trip certificate, and Chiu Kwok-hung points out that, citizens are worried about single trip certificate, so the suggestion is worth studying.
