The price per square feet of KOKO HILLS is 19,900. The first price list including 83 units, 1-bedroom sell 7.872 million

28Hse Editor  2020-07-03  #New Properties

After the implementation of the Hong Kong National Security Law on July 1, market confidence has rebounded and developers have also accelerated the pace of real estate development. The pre-completed period is about 26 months. Tea Green KOKO HILLS, a subsidiary of Wheelock Properties, announced the first price list of 83 units yesterday, with an average price of 25,470 yuan, deducting the highest 21.5% discount, and discounting the average price of 19,995 yuan. After the implementation of the law, the first new offer for sale is about 20% lower than the latest transaction price of 24,000 to 25,000 HKD per square foot of Kwun Tong Kaihui, which is also led by Xinzhi in East Kowloon. Laguna City's current second-hand price per square foot is about 15,000 yuan, which is about 30% higher, and a 366-square-foot one-room discounted admission is 7.872 million yuan. ■reporter Liang Yueqin

Huang Guangyao, executive director of Wheelock Properties, described the first price list of KOKO HILLS as the starting price. Due to the fact that private housing estates in the same district, such as Huijing Garden and Laguna City, have reached the age of 30 years, the matching of housing estates with KOKO HILLS is difficult. In direct comparison, there is a discount of about 20% compared with the current sale price of about 24,000 to 25,000 HKD per square foot for the new property in Kai Tak, East Kowloon. He pointed out that the demonstration unit was opened to the public today, and the ticket was collected immediately. It is believed that there will be room for price increase when the unit is added.

Open demonstration units today

The first price list of KOKO HILLS is 83 units, including 2 units of one-bedroom households, 56 units of two-bedroom households, 23 units of three-bedroom households, and 2 groups of characteristic households. It provides a maximum 21.5% discount and a discounted price of 7.872 million to 16.027 million. Yuan, the net price per square foot is 19,264 to 21,596 yuan, the market value of the price list is 1.13 billion yuan, and the market value is 890 million yuan.

The developer enters the market for the residents of the same district and Hong Kong Island East private housing estates, especially for Huijing Garden, Laguna City, PacificGucheng and Kornhill Garden residents (owners or tenants) launched a 188 floor replacement plan to upgrade premium properties, offering a 188-day transaction period. The maximum discount rate is the same as the 120-day immediate payment method of 21.5%, but the transaction The period was extended by 68 days. In addition, the early repayment of the balance of the property price will be included in the construction period payment to receive a cash rebate discount. Buyers who pay the entire property price within 480 days will receive a cash rebate equivalent to 2% of the transaction price, which is convenient for property changers.

The developer also provides up to 20% of the second mortgage for buyers of 770 square feet of units with a price list of more than 20 million yuan. The loan period is 20 years and the interest rate for the first year is P-3%.

Wheelock Property Chairman Liang Zhijian said that KOKO HILLS is located in Mid-levels East Kowloon, close to the MTR station. There are many medium-sized units and there are also on-board units. He also pointed out that the implementation of Hong Kong's National Security Law is conducive to the recovery of market confidence, and the recent sales of new properties are also satisfactory, and he is confident in the sales of KOKO HILLS.

Agents are optimistic about the exchange of customers into the market

Chen Yongjie, vice chairman of Centaline Property Asia Pacific and president of the residential department, said that the average discounted price of the first batch of KOKO HILLS units is about 20% discounted from Kai Tak’s current first-hand final price, and it is also back to the head of Haiao Bay in East Kowloon in 2018. Batch price. The location of KOKO HILLS is more advantageous. It is adjacent to the second-hand blue-chip housing complex Laguna City and Huijing Garden. It has been over 30 years old, and has accumulated a large number of purchasing power for building replacement and the needs of branch families.

Bu Shaoming, chief executive officer of Midland Real Estate said that the first price list of KOKO HILLS is about 20% lower than the current price of about 24,000 HKD per square meter for new properties in the neighboring Kwun Tong District, which will seize the market's purchasing power. It is quite generous, and it is expected that the project will be able to rent up to 40 HKD per square foot in the future, which will be supported by users and investors.

He also expects that as new properties will continue to sell well in July, if multiple large-scale new properties are successfully sold, it is estimated that this month's first-hand trading volume is expected to reach 2,000, up more than 30% month-on-month, and seize second-hand purchasing power in some markets.

Disclaimer: All wordings and pictures which indicated 28HSE editor are the copyright of 28HSE LIMITED. Acknowledgement is required if other parts of this publication are used. The content is for reference only, does not constitute investment advice and it does not mean that 28HSE agreed the points. The area which show in the article is salable area if there is no special circumstances. The pictures is for reference also.

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