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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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Over 3,300 Units in 7 Projects Rush to The Market Within This Month.

Image Caption
Lui Ting of SHKP: The purpose of withdrawing the amendments is to calm down the society.

Hong Kong Wen Wei Po (By Leong Yuet Kam)

The whole real estate market has become lively after the Chief Governor Carrie Lam Cheng Yuet-ngor announced to withdraw the amendment of the "Fugitive Offenders Regulations". SHKP and MTR’s project in Nam Cheong Station, Cullinan West III which plans to offer prices next week forecasts the first price list will at least include 235 units, with 90% among are small size units under two-bedroom. At the same time, Upper River Bank in Kai Tak (a total of 667 units), Ccrescent Green in Au Tau, Yuen Long (a total of 331 units) and L‧Living 23 in Tai Kok Tsui (a total of 142 units) together were approved for the pre-sale consents last month, together with the LOHAS Park GRAND MARINI and The Entrance in Ma On Shan in condition of collecting applications, as well as Grand Homm in Ho Man Tin planning to be put on sale by bidding, there are 7 new projects including a total of 3,364 units will possible to compete in the month.

The Vice Managing Director of Sun Hung Kai, Lui Ting points out that, the Group welcomes the Government's decision of withdrawing the amendment of "Fugitive Offenders Regulations", and hopes Hong Kong can calm down as soon as possible, also emphasizes they delayed the sale of Cullinan West III until now because there was hand over affairs for other phases of Cullinan West in early. He reveals that, the first price list of Cullinan West III will be no less than 235 units, with 90% among are the small size units under two-bedroom, and they are mainly one-bedroom units.

3,000 people visited the Cullinan West III on the first day.

Cullinan West III yesterday opened the sample flat to the public by appointment for the first time, and the response was actively, with long queues appeared from time to time on the base of the project and parking space in downstairs. The Proxy Deputy Manager, Tong KamKong expresses, this project had opened the sample flat to the public by appointment since yesterday 2:00pm, with 3,000 person-times arrived to visit on the first day.

For the first time, the developer arranged for the media to visit the existing open style unit room E on the 48th floor in block 8, which is the smallest unit of ​​267 sq ft in this phase, and it is accompanied by various electrical appliances and lockers, also it joins with terrace of 21 sq ft and views the city landscape. In addition, room F on the 48th floor of block 8 in ​​350 sq ft, is designed in one-bedroom and has an open kitchen, and it uses a sliding door for the bedroom which is built-in bathroom. Room H on the 48th floor of block 8 in area of ​​391 sq ft is an one-bedroom unit having sea view.

MARINI increase mortgage advantages.

On the other hand, LOHAS Park GRAND MARINI developed by Wheelock Properties and MTR, has collected more than 1,000 applications, over-subscription of nearly 4 times, and announced to additionally launch last night. The Marketing Assistant General Manager of Wheelock Real Estate, Chen WakChi expresses, this project additionally launched 101 units at original prices on the day before yesterday, and there are totally 202 units together with units in the first price list, also the time for the first round of sale will depend on the application situation. She points out that, it is believed the number of applications will increase after the sale arrangement is announced, because LOHAS Park residential projects attract potential customers.

The Ricacorp Mortgage Agent offers a "High Rebate” discount for buyers of GRAND MARINI. The Managing Director of Ricacorp Mortgage Agency, Woo WingYan expresses, the interest rate is H+1.23% in the whole period, and the maximum interest rate is 2.375%, also there will be a cash rebate of 2.1% plus with additional rebate. Hong Kong Property also partnered with the mReferral Mortgage Brokerage Services to provide a “ housing discount” mortgage for the project, with the interest rate low to H+1.23% and the upper limit is locked at P-3%, and the cash rebate is as high as 2.1%, also there will be high-interest deposit hook plan.

The President of Ricacorp Properties, Liao WaiKeung points out that, the number of transactions in the first half of this year was 1,732 cases, and up to 534 cases in the second half of the year, also it is estimated that the number of transactions in the whole year will reach 1,800 cases. The Chief Executive Officer of Hong Kong Property, Lee ChiShing expresses, GRAND MARINI is competitively priced and is expected to be able to rent at a level of above HKD40 after the occupation, with a return rate of about 3%.

LOHAS Park phase 8 was named SEA TO SKY.

In addition, LOHAS Park phase 8 developed by Cheung Kong and MTR was named "SEA TO SKY". According to the data, the project provides 1,422 units, and the key date is expected to be June 30, 2021, also Cheung Kong had already announced to put on sale the project in the fourth quarter of this year in early.
Translated by 28Hse.com . All right reserved.