New disk Yu Leng Shanglong sold only 4 units in the first round

28Hse Editor  2021-04-12  #New Properties

In the past weekend (April 10 and 11), the market lacked new products. The primary market failed to continue the Easter performance, and purchasing power flowed into the secondary market. New developments in the urban area have been cold. On Saturday, 30 units were sold by Shanglong in Xiyingpan, and only 4 units were sold in a single day; on Sunday, the second round of sales of Southwest Kowloon Harbour View III (6 units of which were tendered for sale) was launched as of yesterday. At 9 o'clock in the evening, there was still no news of buying and selling. In the first-hand market, the two-day transactions were dominated by tailed goods. On the two days, 18 new units and 12 new units were sold, and a total of 30 single-hand transactions were recorded.

Fan Tong: Continue the long-term sales

Xiyingpan Shanglong’s admission for this time started from RMB 6.881 million. The market is worried about the high price. Fan Tong, executive director of the developer Regal International Hotel Group, believes that the average price per square foot is RMB 29,915, which is a reasonable reflection of the quality of the property. I feel that the price is too high. He explained that the slower sales are due to the long uncompleted period. Investors may prefer to buy existing properties to collect rents at the end of November 2022. It is expected that the sales will be better as the period of occupation is closer. At present, they will continue to sell in small and long streams. Shang Long is not worried about the market outlook. Together with the two groups of characteristic households sold through bidding at the beginning of the month, the project has temporarily sold 6 units and cashed in at 66.597 million yuan.

The Southwest Kowloon Harbour View III, led by Wheelock and Sino Land, launched the sale of 86 units yesterday, which also failed to drive the first-hand sales of yesterday. The average discounted price per square foot of this batch of units is 25,818 yuan, and the discounted admission fee starts at 6,668,800 yuan, which also tests the market acceptance. Earlier, he added a new price list of No. 2, involving 39 units, and calculated with a discount of up to 20%, the discounted average price per square foot is RMB 26,168, and the discounted price starts at RMB 6,975,200.

MALIBU 4 rooms at 19,500 per square foot

However, there is no shortage of big deals in the market. Wheelock said that its subsidiary Lohas Park MALIBU sold a 4-bedroom unit with a workshop for 21.196 million yuan. The unit has a saleable area of 1,087 square feet and the price per square foot is RMB 19,500. It is reported that the client is a local buyer and is optimistic about the long-term appreciation potential of the area, so the purchase unit is self-occupied. MALIBU has sold a total of 1,594 units so far, accounting for 99.6% of the 1,600 units available for sale, with a total of over 14.9 billion yuan in cash.

According to the news, Sino Plaza Kwun Tong yesterday sold 3 blocks of K flats on the 32nd floor with 569 square feet of saleable area. The transaction price was 13,197,300 yuan, and the price was 23,194 yuan per square foot. The project has sold 1,713 units so far, and has accumulated more than 21.5 billion yuan in cash.

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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