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Hong Kong Property Market - Yr.2020 Aug: Average price per sq feet $11577 2.4%   (last month:$11862)
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One Prestige Additional Launches Tiny House Project, with Sq Ft Price Up to New High in Eastern District.

Hong Kong Wen Wei Po (By Leong Yuet Kam)

Seeing tiny houses are popular, Henderson Land additional launched 7 units of One Prestige in North Point yesterday, among room E on the 5th floor in 164 sq ft joining platform in 540 sq ft is at discounted sale price of HKD6.511 million, with the discounted sq ft price up to HKD39,700, challenging the new high sq ft price of open style houses in Hong Kong Island East, and it is open style feature house having platform larger than unit area, The total 7 units will be put on sale next Tuesday.

One Prestige in Yuet Yuen Street 1, North Point additional launched 7 units in usable areas of 164-288 sq ft, with the prices at HKD5.627-10.643 million and the sq ft prices at HKD29,461-40,512. After deducting the maximum discount of 2%, the discounted prices are about HKD5.514-10.43 million, with the discounted sq ft prices at about HKD28,800-39,700.

Parc Inverness put on sale 11 units with price cut and more discounts.

The Executive Director and Chief Executive Officer of Chinachem, Choi WangHing expressed the day before yesterday that they still had no intention of selling house with price cut, while Chinachem’s Parc Inverness in Kowloon Tong updated some prices list yesterday, adjusting the price of room C on the 10th floor of block 5 among in usable area of 898 sq ft from HKD35.949 million to HKD33.493 million, with sq ft prices being decreased from HKD40,032 to HKD37,297, a down range of 6.8%. They also added a variety payment method, largely increasing the maximum discount from 2% to 12%, and maintaining the stamp duty discount of 4.25%, that is to say, the price cut for some individual units is as high as 17% in disguised form. 11 units will be put on sale next Monday.

Chinachem’s five projects together lunched 25 flats or villas for bidding, including 2 units of The Golden Gate in Tai Po, 5 units of Eden Gate in Kowloon Tong, 12 units of Parc Inverness, 1 villa of Serenity Point and 5 villas of The Papillons in Tsueng Kwan, and the applications for all of them will be closed day by day since August 4.
In terms of first hand property trading, Wheelock’s Grand Napa in Tuen Mun sold No. B8, C22 and D3 villas by bidding yesterday, taking in totally HKD98.52 million. The three villas are in usable areas of 1,763-2,486 sq ft joining with private gardens, and the transaction prices were HKD26.2-39.776 million, with the sq ft prices at HKD14,861-16,000.

In addition, Mount Vienna in Sha Tin developed by AG ASIA and Hanison Construction firstly recorded case of forfeiture of deposit, which happened in compound apartment room B on the 7-8th floors in usable area of 2,605 sq ft joining platform of 1,145 sq ft, and the transaction price was HKD94.4 million with the sq ft price at HKD36,238, but the buyer did not sign the formal sales contract and gave up the 5% deposit which is HKD4.72 million.
Translated by 28Hse.com . All right reserved.