The sq ft price of Campton in Cheung Sha Wan is HKD14,200, 20% lower than the second-hand property price in the same district.
Brand new projects and housing estates with inventory compete to enter the market as the COVID-19 epidemic situation has eased. At least 11 new projects, including a total of 579 units, will be put on sale this weekend (Saturday and Sunday). Vanke's The Campton in Cheung Sha Wan yesterday announced its first price list for 94 units at the cheapest first-hand property sq ft price in Kowloon. The discounted average sq ft price is HKD16,411, lower 26% than that of China Evergrande's The Vertex in the same district last December at HKD22,309. The average sq ft price also is lower about 20% than the second-hand property sq ft price in the same district, and the lowest discounted price for open style unit in 287 sq ft is HKD4.841 million, with the lowest discounted sq ft price at HKD14,288. Journalist(Leong Yuet Kam)
The Executive Director of Vanke Hong Kong, Chau Ming-Hei, expresses that The Campton launched the first batch of 94 units in 287-539 sq ft, including open style, one-bedroom, and two-bedroom units. The sale prices are HKD5.762-10.45 million, and the discounted sale prices are HKD4.841-8.778 million after deducting the highest immediate discount of 16%, with the discounted sq ft prices at HKD14,288-18,526. The sample flat at the Observatory Road in Tsim Sha Tsui is officially opened to the public today. Visitors must register online to make an appointment for the visiting, and there is a small number of on-site visiting quota.
The first batch has 94 units, with one of 287 sq ft at HKD4.84 million.
Lau Shuk-Ching, the Senior Manager of Marketing and Customer Relations Department of Vanke Hong Kong, expresses that the project provides a 120-day first mortgage payment plan with mortgage loan up to 80% of the highest, in addition to providing a 120-day immediate payment plan with the highest discount at 16%.
The APAC Vice President and Residential Department President of Centaline Property, Chen Wing-Kit, expresses that the discounted average sq ft price of The Campton is only about HKD16,000, the new low first-hand property price in the urban area of Kowloon in the past four years. The previous project around this price was One Park in Cheung Sha Wan in October 2016, and the discounted sq ft price for the first batch in those days was about HKD15,000. Even the second-hand property sq ft prices for new housing estates in the same district are above HKD20,000, and the sq ft prices in Nam Cheong Station are HKD22,000-24,000. So, The Campton's prices are starting prices, which is estimated to set off a wave of buying. The current sq ft rent of the new property in Changsha Bay is about HKD40-64, which is believed to attract tenants to enter the market.
Seaside Sonata adds units for sales and supplies discount.
Facing The Campton's low-cost promotion, Cheung Kong's Seaside Sonata in Hai Tan Street of the same district yesterday updated the price list, newly adding 24 units with time limit urban house exchanging preferential by 5% and a 1% mortgage-free discount. Buyers who choose immediate payment plan 2 can enjoy a discount up to 29%. The unit at the lowest sq ft price is Room D on the 8th floor of Block 5, and it is 503 sq ft, with the sq ft price at HKD16,014.
Aquila, OMA, and Altissimo will be put on sale on Sunday.
Besides, Hon Ka-Fai, the General Manager of Sales Department (2) of Henderson property, expressed yesterday that Aquila ．Square Mile confirmed to put on sale 88 units on this Sunday. They are open style and one-bedroom units in 197-257 sq ft, and the discounted prices are HKD4.638-6.488 million, with 17 units under HKD5 million. The project has received 300 applications.
Wing Tai's OMA by the sea in Tuen Mun will also put on sale the second round of 108 units on Sunday, with the discounted lowest price at HKD3.88 million, and another 53 units would be tendered for sale next week. Altissimo developed by Country Garden Holdings and etc., in Ma On Shan will also on Sunday put on sale a new batch of 115 units, 66 of which will be tendered for sale.
Brand new projects which have been released for sale this weekend include Wetland Seasons Park Phase 2 in Tin Shui Wai and Ayton in Inverness Road of Kowloon Tong. These two projects will start their first round sales on this Saturday, with 200 units and 26 units, respectively.
