There are at least 285 units in the first price list. Chiu Kwok-Hung: National Security Law Related to Hong Kong Area is positive on the Property Market.
At the end of last month, the National People's Congress passed the "National Security Law Related to Hong Kong Area." Chiu Kwok-Hung, the Executive Director of Cheung Kong, said yesterday that the legislation is necessary since citizens will only buy homes at ease under a stable social environment. It is favorable to the property market. LOHAS Park SEA TO SKY, developed by Cheung Kong and MTR, uploads the brochure these couple days. Kwok Chi-Wai, the Investment Director of Cheung Kong, points out that this project will offer prices and start the sales within the month. The first price list has at least 285 units, mainly viewing the sea, and the pricing will refer to the prices of the first-hand, second-hand, and feature units, in the same district. Chiu Kwok-Hung said that the first price list provides a certain of discounts, and he has confidence in the sales.
Journalist(Leong Yuet Kam)
SEA TO SKY is on sale soon, and Cheung Kong firstly disclosed the layouts and unit areas yesterday. Kwok Chi-Wai expresses that the project consists of three residential buildings, including 1,422 units, with areas of 434-1,077 sq ft. Among them, two-bedroom units account for 40.6% (577 units), three-bedroom units account for 52.1% (741 units), and four-bedroom units account for 7.3% (104 units).
Three-bedroom and four-bedroom units all enjoy sea views.
Kwok points out that the project is built near the sea, only 25 meters away from the seaside. All three-bedroom and four-bedroom units enjoy 100% sea views, and the pre-sale period is about 20 months.
There were also new projects being put on sale in the same district this year, attracting a lot of purchasing power. In the short term, there are also new projects for sale in East Kowloon. How will SEA TO SKY, one of the large-scale new projects this year, be priced? Kwok Chi-Wai believes the market has a certain demand since there have been many second-hand property transactions in LOHAS Park in a past period. Each housing estate has its characteristics and selling points. He expresses that the pricing will refer to the prices of the first-hand, second-hand, and feature units, in the same district. He also says that the opening of LOHAS Park Mall in a short period and the traffic of Tseung Kwan O Cross Bay Bridge in 2022 will benefit the area's appreciation potential. Many small units have been sold in the market in the past few months. It is believed that the SEA TO SKY can attract a group of home-changers.
Chiu Kwok-Hung expressed that "National Security Law Related to Hong Kong Area" has a stabilizing effect on Hong Kong's future. He did not believe there would be a flight of capital or immigration tide in Hong Kong, and emigrants may not sell their house in Hong Kong. Regarding the renewed tensions in Sino-US trade relations, he believes that the results of the first phase of Sino-US negotiations are good for Hong Kong and China, also good for the whole world. He describes the results would bring light to the Hong Kong property market.
Anderson Road project will not build Tang house (the "partitioned flats," also known as room house).
Speaking of Cheung Kong's earlier winning bid for the Anderson Road land, which is suitable for Hong Kong people's first housing in Kwun Tong, he said that the group is very excited to provide units ideal for residents and would not build Tang house.
The economy is expected to rise steadily in the second half of the year.
Looking forward to the outlook of the property market in Hong Kong in the second half of the year, Chiu Kwok-Hung believes that property prices have been adjusted by 5% to 8% in the first half of the year. The economy is expected to rise steadily in the second half of the year under the government's powerful measures to the epidemic and a series of policies to ensure employment. At the same time, the property prices trend will depend on individual regions and housing estates. "The sales will be difficult if the selling price is too high." He also points out that the group has always put on sale the properties at market prices. And there have always been discounts for the first batch. He is confident in the sales of SEA TO SKY.
For the first-hand property trading, SHKP's Victoria Harbour in North Point sold Room E on the 12th floor of Block 5A yesterday, in an area of 369 sq ft. It is a one-bedroom unit sold for HKD14.558 million, with the sq ft price at HKD39,453. Henderson's Grandview · Double Cove in Ma On Shan sold Room A on the 25th floor of Block 6 by tender yesterday. The area is 1,454 sq ft, and the transaction price was HKD24.5008 million, with the sq ft price at HKD16,851.
