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Fierce Competition Breaks Out among over 700 Flats of Seven Projects in the New Territories.

Image Caption
The lowest price in additional launched flats of T Plus is HKD2.103 million; ATRIUM HOUSE put on sale 63 units on Friday.

Hong Kong Wen Wei Po (By Leong Yuet Kam)

7 new projects in the New Territories have fierce competition in July. T Plus which is called "Dragon Bed" in Tuen Mun again additional launched 120 units with mark up of 5% yesterday; OMA OMA in So Kwun Wat of the same district additional launched 50 units at original price on the same day, and it also firstly launched open style flat in 254 sq ft; ATRIUM HOUSE IN Yuen Long will put on sale the next batch of 63 units on this Friday. ONTOLO in Pak Shek Kok, Tai Po developed by Great Eagle Holdings which puts on sale residential property in Hong Kong again after 30 years uploaded the brochure yesterday, and they plan to offer prices and put on sale the properties within the month.

With 6,800 applications had been received, T Plus in Tuen Mun developed by Jiayuan and Stan Group additional launched 120 units of 132-387 sq ft again with mark up yesterday, and the prices are HKD2.696-8.723 million, while they are HKD2.103-6.804 million after deducting the highest discount of 22%, also there are 108 units at discounted prices less than HKD4 million. The average discounted sq ft price for this batch is HKD17,167, which is similar to that of HKD17,258 of the additional launched flats on the previous day.

T Plus additional launches flats with mark up of 5%.

Taking the newly-launched room 29 on the 15th Floor as an example, it is 178 sq ft and at price of HKD3.676 million with the sq ft price at HKD20,652, while room 29 on the 12nd floor price of which was offered on last Thursday is 177 sq ft and at price of HKD3.446 million with the sq ft price at HKD19,469. So the actual price increase is 5.1% if compare by sq ft price after deducting the factor of floor.

Synthesizing the four price lists that have been launched, there are 276 open style flats at discounted prices of HKD1.738-3.283 million, with about 20 among are less than HKD2 million; one-bedroom accounts for 36 units and the discounted prices are HKD3.288-4.291 million; two-bedroom accounts for 36 units, and the discounted prices are HKD5.118-6.811 million.

OMA firstly launches open style flat.

The Executive Director and Sales and Marketing Director of Wing Tai, Chung ChiLam expresses, OMA OMA in Tuen Mun additional launches 50 units at the original price with the average sq ft price at HKD13,130, and the sale will start this week at the soonest. The areas of the additional launched units are 254 sq ft to 750 sq ft, and there are open style flats that are firstly launched. The cheapest unit is Room C on the 5th floor of Block 1B, in an area of ​​254 sq ft, and the price is HKD3.614 million with the sq ft price at HKD14,228. This project announced yesterday to put on sale 110 units this Saturday, and 27 units among will be put on sale by tendering.

The project has sold 158 units, accounting for more than 80% of the public offering units, and total of 167 units were sold plus with the 9 being sold by tendering, leading the average transaction sq ft price to HKD13,031.

New World’s ATRIUM HOUSE in Yuen Long decided to sell a new batch of 63 units this Friday, and this project has sold nearly 190 units since the end of last month. SHKP’s Mount Regency II in Tuen Mun also will put on sale 20 units this Friday, which means these two projects will once again compete. Mount Regency II also announced yesterday to sell a new batch of 10 units this Saturday.

On the other hand, Great Eagle Holdings’ ONTOLO in Pak Shek Kok in Tai Po uploaded the brochure yesterday. The Executive Director of Great Eagle Holdings, Law ChunHim said, the project would announce the price and open the sample flat in the short term, and the sales might have the chance to start within the month, also there would be at least 145 units in the first price list with the prices will refer to the new projects in the same district, besides the target customers are customers who want to change houses and family customers.

ONTOLO uploaded the sales brochure yesterday.

Although there are a number of new projects for sale in Pak Shek Kok, he points out that the layouts of ONTOLO are different from other projects in the same district, and they are confident in the sales since it is facing the sea.

According to the sales brochure, ONTOLO provides a total of 723 units, ranging from 357 sq ft to 3,098 sq ft and including one to four bedrooms. The standard flats of the project will be mainly two-bedroom units, accounting for about 35%, and the three-bedroom units will account for about 27%. The key date for the project is July 31, 2020.
Great Eagle’s previous residential project in Hong Kong dated back to the Birchwood Place in Midlevels Central 30 years ago. Law ChunHim points out that the group has been looking for suitable projects, not only in Hong Kong but also in all the world.

ONTOLO will announce prices soon. K.Wah’s Solaria in Tai Po decided to sell a new batch of 15 units this Saturday. China Overseas Land & Investment’s The Regent in the same district which will also be put on sale this week had collected 670 applications until last night, an over-subscription of 2.7 times base on the additional launched 180 units.
Translated by 28Hse.com . All right reserved.