Campton Increased Prices for the Second Round and Still Sold 98%, with 281 Units Had Been Sold in Eight Days. Agents Said It Is Popular among Young People.

28Hse Editor  2020-06-03  #New Properties
The hot sales of Vanke Hong Kong's The Campton in Cheung Sha Wan in May continue, collecting 7,123 applications. It put on sale the second round of 94 units publicly yesterday. The reaction is still hot even though the developer has increased the prices. Chau Ming-Hei, the Executive Director of Vanke Hong Kong, expresses that 93 units were sold throughout the day, with a sales rate of 98.9%, and the total value is over HKD880 million. The project had sold 281 units in just eight days. With other sales of inventory, about 107 first-hand property units were sold in Hong Kong yesterday. Journalist(Leong Yuet Kam) Yesterday morning, The Campton put on sale 94 units, one-bedroom to three-room units in 369-761 sq ft. These units include three-bedroom units with dry wet separation design that are first launched, three-bedroom units with platform, three-bedroom and a half units with a platform, and some extremely high-rise two-bedroom units. The discounted prices are HKD6.596-13.375 million, and the discounted sq ft prices are HKD16,171-20,304. The developer divided ten periods for sales from 9:00 to 14:50 yesterday. According to market source on-site, the attendance of customers with numbers in front was not as high as in the first round of sales last Wednesday, showing a bit slow on sales. It is reported that the developer automatically revives the applications that were failed in house selection last weekend and arranged draws lots again. Some potential buyers with numbers in front did not attend due to bank mortgages problem or developer increasing the prices for additionally launched units. However, prospective buyers with average numbers are active. Self-use buyers spent HKD20 million to buy two units. Lam Wai-Man, the Senior Business Director of Centaline Property West Kowloon, expresses that one group of buyers spent about HKD20 Million to buy two high-rise two-bedroom units for own-occupation. He also points out that the attendance of potential buyers through their company was nearly 70% yesterday. And one-bedroom units are popular among young users and investors. He explains that the sq ft rent of new housing estates in Cheung Sha Wan and Sham Shui Po districts are as high as HKD60, and the rental return is stable at 3%, attracting investors to enter the market for rent. Po Siuming, the Chief Executive of the Midland Real Estate Residential Department, expresses that users through their company account for about 70%, many of them are younger generations, and about 30% are investors. The market source points out that, as of about 4 pm yesterday, there were 6 units had been selected but finally did not enter the procedure of signing a temporary sale and purchase agreement, commonly known as "abandoned units." The developer immediately arranged drow lots again for these units at 4:30 pm. Finally, 93 units were sold on the whole day. It is understood that three-bedroom unit Room A in 761 sq ft on the 19th floor has the highest transaction price of HKD13.599 million. Two-bedroom unit Room C in 477 sq ft on the 30th floor has the highest sq ft price of HKD20,897. Buyers are mainly users, and there are also investors. Two groups of customers bought more than one unit. Ocean Marini additionally launches 51 units. On the other side, LOHAS Park Ocean Marini developed by Wheelock and MTR additionally launched 51 units last night and confirmed to put on sale 101 units viewing sea this Saturday. It additionally launched 51 units in usable areas of 547-1,062 sq ft yesterday. The sale prices are HKD11.024-24.059 million, and the discounted prices are HKD8.587-18.742 million after deducting a maximum discount of 22.1%. SHKP's Babington Hill in Midlevels West sold 2 units yesterday, which are Room C on the 12th floor and Room D on the 17th floor. The transaction prices were HKD20,962,300 and HKD17,050,200, with areas of ​​614 and 493 sq ft, and the sq ft prices were HKD34,141 and HKD34,585. Double Cove in Ma On Shan sold 2 feature units. Henderson's Double Cove series in Ma On Shan sold 2 garden feature units. Compound apartment Room A on the ground and the 1st floors of Block 18 in Double Cove Starview was sold for HKD51.0368 million, including two parking spaces. The area is 3,112 sq ft, with a garden of 1,070 sq ft, and the sq ft price was HKD16,400. The other unit is Room A on the ground and first floors of Block 1 of Double Cove Phase I. It was sold for HKD42.26 million, including two parking spaces. The area is 2,633 sq ft, with a garden of 1,042 sq ft, and the sq ft price was HKD16,050.
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