Hong Kong Wen Wei Po (Journalist Ngan LunLok)
The first-hand property transactions during the past Saturday and Sunday have slightly risen. It mainly because China Evergrande put on sale its new project Emerald Bay II in So Kwun Wat, Tuen Mun, on Saturday and sold about 54 units in two days. According to a market source, a total of 109 transactions were recorded in the first-hand property market in Hong Kong. Wheelock suddenly additionally launched at the midnight hour the 2nd price list of LOHAS Park OCEAN MARINI, which had offered prices last week. It includes 101 units at a discounted average sq ft price of HKD15,238. The developer points out that they are original prices.
OCEAN MARINI receives over-subscription applications.
Wheelock points out that the majority of registered purchasers are family customers aged 30 to 45, with 60% from Kowloon and Tseung Kwan O districts, and the New Territories and Hong Kong Island account for 20% and 10% respectively. Woo KwongYiu, the Executive Director of Wheelock, expresses that the project started to open the sample flats last Saturday, and about 3,000 person-time had visited for two days. The first price list last week involves 101 units, all of which are in layout of two-bedroom and areas of 472-616 sq ft. The discounted average sq ft price is HKD14,688 after the highest discount of 22.1%.
The project's 101 units additionally launched yesterday with a slight price increase are from 450 sq ft to 1,061 sq ft. The discounted prices are HKD6.644 million to HKD17.31 million after the discount of 22.1%, with the discounted average sq ft price at HKD15,238, a price increase of 3.7% from that for the first price list. The developer points out that the prices in the second price list are original, excluding the factors of landscape, floor, and so on.
The two price lists have a total of 202 units. After deducting various discounts on the price lists, the average sq ft price is HKD14,976. The developer states that the project began to accept application yesterday, and temporarily received nearly 1,000 cases. Based on the first two batches, it is an over-subscription of almost 4 times. The first round of sales is expected to begin in mid-March. Developer provides several epidemic prevention measures, such as restricting the flow of people, measuring body temperature before entering the sales office, etc.. Also, they sent anti-epidemic soup to agents of this project.
St Martin has recorded 11 abandoned transactions.
Besides, SHKP's St Martin in Pak Shek Kok, Tai Po, has recorded 11 large-amount abandoned transactions. According to the first-hand sales information network, these 11 transactions had been terminated last Friday. All the 11 units had been sold by tender. Thereinto, 2 were sold in July 2018, while the remaining 9 were sold from March to April last year. The transaction prices are from HKD6.72 million to HKD22.336 million. It is estimated that the developer would confiscate nearly HKD15 million since buyers had paid about 10%-15% of the property prices.
Among them, room A1 on the 15th floor of block 1, with an area of 953 sq ft, was sold for HKD22.336 million in July 2018. The buyer is Chau Man-Ho, the Sales Director of Sha Tin Luxury Residential Area of Centaline Property, who had paid 15% of the property price and abandoned the transaction, losing HKD3.3504 million. Chau Man-Ho responded to the media yesterday that abandoning the transaction has nothing to do with personal finances and the property market, but want to change a house. And he also purchased a three-bedroom unit room A on high-rise of block 11 in Phase 2 for HKD18.936 million, with an area of 789 sq ft and an sq ft price of HKD24,000.