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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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New Projects Come Into The Market Together As The Market Atmosphere Eased; 20 Units of The Vantage Were All Sold; Cristallo Sold Compound Apartment for about HKD100 Million.

Image Caption
Hong Kong Wen Wei Po (By Leong Yuet Kam)

The social atmosphere seems to have slightly eased after the Chief Executive Carrie Lam Cheng Yuet-ngor officially announced the withdrawal of the amendment of Fugitive Offenders Regulation last week, and new projects rush to start sales, for example, starter homes project The Vantage in Hung Hom launched a new batch of 20 units yesterday, all of which are open and one-bedroom units, also source pointed out that all were sold. Starter homes are popular, and luxury property transactions were also recorded, such as Cristallo in Ho Man Tin and Eden Gate in Kowloon Tong were also successfully sold through tenders, with transaction prices at HKD108.8 million and HKD48.3 million respectively.

Henderson additionally launched 41 units of The Vantage in Hung Hom at average sq ft price of HKD24,900 last week, with the discounted average sq ft price at HKD22,900 deducting the highest discount of 8%, and it put on sale 20 units among that mainly open style and one-bedroom yesterday on the first-come first-served basis, besides the lowest discounted prices of them is HKD4.14 million.

Transaction sq ft price of Cristallo is up to about HKD40,000.

On the other hand, the Business and Marketing Director of Grand Ming, Ngan KingFung expresses, Cristallo in Ho Man Tin sold compound apartment of room B on the 9th and 10th floor by tender yesterday at transaction price of HKD108.8 million, with the sq ft price at HKD40,029, reflecting that traditional Kowloon quality luxury properties are still popular. This compound apartment is four bedrooms two suites in usable area of ​​2,718 sq ft.

A four-bedroom unit in Eden Gate was sold by tender.

Chinachem’s Eden Gate in Kowloon Tong also sold room A on the 3rd floor of block 2 by tender at HKD48.3 million, and it is four-bedroom two suites in the area of 1,464 sq ft, with the sq ft price at about HKD32,992. The Sales Department Director of Chinachem, Ng SungMo expresses, the project only left 3 units of top floor compound apartments in areas of 2,379-2,797 sq ft, and all enjoy private rooftops and platforms.

New World’s Fleur Pavilia in North Point also sold one low-rise one-bedroom apartment, which is room C on 6th floor of block 3 in usable area of 519 sq ft, and the transaction price was HKD14.176 million with the sq ft price at HKD27,314.

OMA sold 5 featured units.

The Executive Director and Sales and Marketing Director of Wing Tai, Chung ChiLam expresses, OMA OMA in Tuen Mun has totally sold 22 units in the past two days, among 5 feature units were sold by tender yesterday, and all are feature units joining with platform on the 5th floor in areas of 407-420 sq ft, with the layout in two-bedroom, besides the transaction prices were HKD5.478-5.784 million, with the average sq ft price at HKD13,537. The highest transaction sq ft price is HKD13,771 for Room 5H, Block 1A in area of ​​420 sq ft joining with a 170 sq ft platform.

The project has so far sold 267 units taking in nearly HKD1.49 billion.

The property that came across forfeiture of deposit in The Horizon II was sold.
One unit of Billion’s The Horizon II in Pak Shek Kok, Tai Po came across forfeiture of deposit at the end of August, while it was sold by tender at HKD5.186 million yesterday, and it is Room B feature unit on the 20th floor of block 12 in 251 sq ft joining a rooftop in 196 sq ft, with the sq ft price at HKD20,661. The unit had been sold in May for HKD5.269 million, while the order was canceled even though both sides had signed a formal contract after, and it is estimated that the 10% deposit involving about HKD530,000 was forfeited. The latest transaction price was lower than before, mainly because new buyers used different payment methods.
According to market source, Cullinan West III in Nam Cheong Station developed by SHKP and MTR will offer prices today at the soonest, and the first price list includes at least 235 units mainly are two-bedroom units or smaller.
Translated by 28Hse.com . All right reserved.