The first-hand property sales improve, and developers actively launch projects to make money. LOHAS Park SEA TO SKY in Tsueng Kwan, with the pre-sale period of about 20 months and the total number up to 1,422 units, announces the sales deployment for the first time today. The market source points out that the developers, including Cheung Kong and MTR, will offer prices and open the sample flat to the public next week. Kwok Chi-Wai, the Investment Director of Cheung Kong, said earlier that the company plans to conduct SEA TO SKY's first-round sales in June.
Journalist(Leong Yuet Kam)
In early mid-January this year, SEA TO SKY has obtained the pre-sale consent, but its sales had been delayed repeatedly due to the COVID-19 epidemic. The project consists of three residential buildings, providing a total of 1,422 residential units, mainly of two-bedroom to four-bedroom units. The project is located in the coastal area, most of the units can enjoy sea views, and the expected completion date is February 28, 2022.
The sq ft price of the compound apartment in The Wings is HKD25,300.
Before SEA TO SKY sales, there are records of transactions with large amounts for the first-hand property inventory in Tsueng Kwan. Compound apartment Room D on the 48th floor of Block 6 in The Wings, SHKP's project in No.9, Tong Yin Street, Tsueng Kwan, was sold for HKD35.673 million yesterday. The usable area is 1,410 sq ft. It has a 323 sq ft platform, a rooftop in 437 sq ft, and a stairhood in 66 sq ft. The layout is four-bedroom (two suites) and a storage room with a toilet, with the sq ft price at HKD25,300.
The demand for luxury properties is strong. Dukes Place developed by CSI Properties Limited and Asia Standard, etc. in Jardine's Lookout, sold the compound apartment Room B on the 5-6th floors (with two parking spaces) by tender yesterday HKD172 million. The usable area of 2,849 sq ft and the sq ft price is HKD60,372.
SHKP's Wetland Seasons Park Phase 2 in Tin Shui Wai stopped the sales of 10 units yesterday. It is believed that it will deploy price increases and then sell again.
Developers' inventory is significantly reduced.
Besides, due to the impact of the epidemic, developers slowed down the pace of launching the brand new projects earlier. They put on sale of the inventory, reducing the inventory of the six major developers. The Senior Co-director of Centaline Research Department, Woo LeungSing, points out that, as of April 2020, the six significant developers had a total inventory of 4,414 units, a new low in eight months after August 2019, when the inventory record was 4,370 units. In April, six major developers' inventory decreased 306 monthly, 134 of which were from SHKP. With developers actively launching brand new projects and selling them in batches, there may be a slight increase in six major developers' inventory in May.
