Many developers take advantage of the falling of confirmed COVID-19 cases to additionally launch the first-hand properties, and at least 303 units are being put on sale on this Saturday. China Evergrande (3333) 's Emerald Bay Phase 2 in So Kwun Wat, Tuen Mun, additionally launched 145 units at original prices yesterday, and the lowest discounted price for a unit of 223 sq ft is HKD3.538 million. Together with some unsold units in the first round early, the developer confirms to put on sale the second round of 269 units on a first-come, first-served basis this Saturday. This time, no arrangements for sales stages are made as in the first round.
Journalist(Leong Yuet Kam)
Yesterday, Emerald Bay Phase 2 additionally launched 145 units, all of which are units in block 5 and 5A in usable areas of 223-314 sq ft. The prices are HKD4.137-6.62 million, with the sq ft prices at HKD16,904-21,538. The discounted prices are HKD3.538-5.674 million, and the discounted sq ft prices are about HKD14,400-18,400, base on the highest discount of 14% for 90-day Immediate Payment Plan and all buyers enjoy an immediate discount of HKD20,000. All 145 units are under HKD6 million. Eighty-seven units among are under HKD5 million after discounts, and 31 units are even lower than HKD4 million.
The sq ft prices are higher by 78% of the most than that for second-hand properties in the same district.
Emerald Bay Phase 2 in So Kwun Wat, Tuen Mun, announced its first price list of 250 units in October last year, with the discounted average sq ft price at HKD16,942, the highest in the district. Until the end of February this year, the developer added concessions for this project to cut prices by 4% in disguised form, leading the average sq ft price to HKD16,304. However, it still is the most expensive first-hand housing estate in the district. The developer had put on sale the first round of 250 units for three days since March 7 this year. Under the effect of the epidemic, 46 units among the first batch of 141 units were sold on March 7, with a sales rate of only 32.6%.
The additionally launched 145 units are at original prices, and all under HKD6 million after discount. But the discounted sq ft prices are still up to HKD14,400-18,400, higher by 10% to 78% than the second-hand property prices in the same district currently. Besides, they are just tiny apartments in 200-300 sq ft. At present, the second-hand sq ft property price of stratified units of NAPA that has been occupied in the district is about HKD12,607. The second-hand sq ft property price of Avignon is about HKD10,304, while the second-hand sq ft property price of stratified units of The Bloomsway is about HKD13,916.
In response to the tightening of mortgage approvals by some banks, China Evergrande continues to provide buyers with designated financial institutions, granting flexible first mortgage plans by up to 90%, with a loan period of up to 30 years. The principal is not liable for interest in the first 12 months. The monthly mortgage interest rate is P-2.5% (P is 5%) for the13th to 36th months, followed by P + 3%.
Mount Regency Phase II launches 20 units more due to the booming sales.
On the other side, SHKP also announced to put on sale 20 units of Mount Regency Phase II in King Sau Lane, Tuen Mun, on a first-come-first-served basis this Saturday. This project had quickly sold 18 units in the past four days during the Easter holiday, and it goes the top on sales achievement, with the average sq ft price at HKD16,400. Henderson would also put on sale 12 units of Novum Point in North Point this Saturday. The usable areas are 181-365 sq ft, and the prices are HKD5.986-10.843 million, with the discounted prices at HKD5.747-10.41 million after the highest discount of 4%.
Besides, yesterday, Hanison Construction also confirmed to put on sale 2 units of WEST PARK in Cheung Sha Wan on Saturday, including room B on the 6th floor and room B on the 23rd floor. Room B on the 23rd floor, which is two-bedroom with a study in 493 sq ft, is a decorated unit in the design theme of Modern Bordeaux. The price is HKD10.867 million, and the discounted price is about HKD9.997 million after the highest discount of 8% for the Immediate Payment Plan.
