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Fierce Competitions! Downtown 38 Will Announce Pricing Soon.

Image Caption
THE CARMEL collected nearly 50 applications on the first day and the Paragon has collected 6247 cases.

Hong Kong Wen Wei Po (By Liang Yueqin)

Developers are rushing to launch projects before the Lunar New Year. Downtown 38 in Ma Tau Kok developed by Sun Hung Kai and Urban Renewal Authority (URA) will announce pricing soon and be put on sale next week at the soonest, following the opening of China Overseas’ Paragon in Tai Po Tianzhu and Wing Tai’s The Carmel in Castle Peak Road of Tuen Mun, both of which were launched in low price. On the other hand, The Carmel started collecting applications yesterday. Source pointed, nearly 50 applications were collected on the first day, close to the quota; Paragon in Tai Po has received 6,247 applications until last night, 11.8 times of the quota, which will close today.

Downtown 38 will offer the price as soon as possible and will go on sales next week at the soonest, sample units of which will possibly be open to public this week, the Vice Managing Director of Sun Hung Kai, Lei Ting expressed yesterday. Downtown 38 will certainly be sold at market prices, the prices of other projects in the same district has less reference value, and the discounted sales price of many units among will less than HKD 6 million because 70% of the project are one room units, providing mortgages in 80%, Lei Ting stressed when was asked whether it would follow the recent opening in low price as other new projects did.

Lei Ting: Downtown 38 will be launched in market price.

eResidence of Starter Homes scheme in Hung Hom is accepting applications from the public. He considered Starter Homes scheme projects are subject to many restrictions on the applicant's eligibility, rental and sale, while Downtown 38 which is a private project has certain advantages in relatively speaking.
Downtown 38’s open kitchen style unit in 304 sq ft is absolutely not "Tiny". The same area modified sample unit opened to the media yesterday is not only combined with the design style of the boutique hotel in New England but also consider the living space of the residents, which is absolutely different from the tiny units in the market, he pointed.

Stubbs Road project applied for sales approval by portion phases is not because of Vacancy Tax.

About Sun Hung Kai applied sales approval for Stubbs Road project by portion phases, he pointed, the group have always been selling the tiered units first and the villas at the end of the luxury residential projects, so the sales arrangement is nothing to do with Vacancy Tax.
Downtown 38 may announce the price list this week and then open the sample unit to the public for visit, sales of which will start next week possibly, the Deputy Vice General Manager of SHKP, Tang Jinjiang expressed.

The Masterpiece connected unit was sold in more than HKD 102 million with sq ft price in HKD 45,000.

In respect of the first hand property transaction, New World's The Masterpiece in Tsim Sha Tsui sold a connected large unit Room E which is in usable area of 2,258 sq ft and on the 58th floor through tendering in more than HKD 102 million with sq ft price in HKD 45,830.

La Cresta in Kau To Highland developed by HKR International and Nanfeng sold the No. 9 villa in HKD 81.8 million yesterday, with sq ft price in HKD 31,329. The No. 9 villa (including the basement parking spaces P17 and P18) is three layers in layout of four rooms (including 3 suites) covering usable area of 2,611 sq ft, and it has private garden in 806 sq ft, private rooftop in 638 sq ft and terrace in 87 sq ft, the Assistant General Manager of Sales and Marketing Department of HKR International, Chen Xiuzhen expressed. As of yesterday, this project had sold 41 units by bidding, with total transaction over HKD 2.295 billion.

Billion Development’s The Horizon in Pak Shek Kok of Tai Po also sold 2 units through bidding, including the feature ground unit room E of block 2 in Court B, which is in usable area of 494 sq ft joining with vestibule in 499 sq ft and was sold in HKD 8.545 million with sq ft price in HKD 17,298; The other is room E on 15th floor of block 1 in Court B, which is in usable area of 514 sq ft and was sold in HKD 7.304 million with sq ft price in HKD 14,210.
Translated by 28Hse.com . All right reserved.