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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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The Sales of The Grand Marine Will Start at the End of This Month of the Soonest.

Image Caption
Hong Kong Wen Wei Po (by Lai Chi-tin)

Developers make hay launch projects as the Sino-US trade negotiations make new progress. The Grand Marine in Tsing Yi will open sample flats and uploaded the price list next week of the soonest. Yesterday, Developer Grand Ming Group expressed that the first batch price list would involve at least 20% (about 156 units) of the total units, and they will be put on sale at the end of this month of the soonest.

The brochure will be uploaded this week of the soonest.

TheSales and Marketing Director of Grand Ming Group, Ngan King-fung says, The Grand Marine in Tsing Yi was approved for pre-sale consent on last Friday, and they predict to upload brochure this week then open sample flat and upload the first price list next week, besides the sales will start between the end of this month to the beginning of November of the soonest. The first batch includes at least 20% of the total, with one-bedroom to two-bedroom are the main, and the prices will refer to the recent new projects and second-hand property prices in the same district, which will be attractive prices.

Ngan King-fung continues, this project is the first new private housing estate of the district in 15 years, hoping it would be satisfactory As for the forthcoming policy address, Ngan King-fung estimates the introduce measures and news to be positive to the property market. At the same time, although the social atmosphere is not stable, the recent developers are launching by market prices and the sales are recorded well, so the property market continues to be stable.

The Grand Marine provides 776 units, with one-bedroom units among are 299-313 sq ft and two-bedroom units are 410-438 sq ft, and both accounts for about 70% of the total; Three-bedroom units are 566-807 sq ft and four-bedroom units are 808 sq ft.

The applications for Seaside Sonata are over four times of quota for the time being.

In addition, Seaside Sonata developed by Cheung Kong and URA has collected about 1,100 applications for the time being according to market sources, and that is an over-subscription of about four times. The Assistant Chief Manager (Sales) of Cheung Kong, Ho Ka-yan recently revealed that they may possibly additionally launch housing units after the first round of sales, and the high-rise sea view units or bilateral landscape units have room for price increases. In addition, the family group pattern will be introduced in the first round of sales on Thursday, which is customers buying more than one unit have priority selection right. The sales involve 218 units, ranging from 484 sq ft to 786 sq ft and offering a 22% discount, and the discounted prices are about HKD7.05-16.897 million, with the discounted sq ft prices at HKD14,054-21,916.

The first-hand property vacant tax is coming, and developers also speed up the sale of luxury projects. The standard tiered houses of Wing Tai’s new project THE CARMEL in Tai Lam, Castle Peak Road, Tuen Mun had been sold out in the early time. The Executive Director and Sales and Marketing Director of Wing Tai Properties Limited, Chung Chi-lam expresses, the project currently has 38 villas and 2 feature units left, and the construction for villas has entered the countdown stage, so it is planned to be put on sale by a form of ready houses within October. The areas of 38 villas are from 1,706 sq ft to 4,144 sq ft. Three existing sample houses with furniture are being prepared and will be opened for visiting in the short-term.

Villa project THE WOODS increases the discount.

Villa project in Pak Shek Wo, Sai Kung THE WOODS, developed by international group as a lead developer and had been launched in three years ago, uploaded the latest sales arrangements yesterday, putting on sale room C, D, E, and F on a first-come, first-served basis this Friday. The areas are 2,014-2,068 sq ft, and the prices are HKD58-68 million, also buyers can enjoy a 180-day long term transaction period plus with a 20% discount, furthermore there is another discount of 10% for room C, D, and E, while buyer of room F will receive whole house furniture as gift, so there are more discounts compared with 90-day transaction period and 25% discount in previous, besides the discounted lowest price is HKD40.6 million, with the discounted sq ft price at HKD20,100.
Translated by 28Hse.com . All right reserved.