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The First-Hand Property Market Recorded 7 Closed Sales in a Single Day Due to Fear of Riots.

Image Caption
2019-11-19-(Tue)
【28Hse.com】  
Hong Kong Wen Wei Po (By Leong Yuet Kam)

The violent demonstrations in Hong Kong escalated and the economy entered negative growth, affecting the investment sentiment. The first-hand property market recorded 7 closed sales in a single day yesterday, and buyers’ loss totaled to HKD4,791,250, also at least 20 closed sales have been recorded since this month. Among them, The Grand Marine in Tsing Yi, which was sold on the 8th and 9th of this month, even has recorded 4 closed sales.

Under the rapid deterioration of the social atmosphere and economic environment in Hong Kong, some buyers who are not strong enough or worry about property prices falling chose to close the sales.
My Central recorded closed sale at large amount and HKD 2.95 million was confiscated.

According to the transaction record book, Grand Ming Group’s The Grand Marine in Tsing Yi newly increased 4 closed sales immediately after purchasing, and these 4 houses all were sold in the second batch on the 8th and 9th of this month, besides there respectively are room A on the 17th floor, room E on the 20th floor, room F on the 26 floor, and room F on the 27th floor in block 1A, with transaction prices at HKD5.137-7.133 million, also the buyers of relevant units were confiscated by the developer for 5% deposits which totaled up to HKD1,146,250. The closed sales number for this project has increased to 7 since the beginning of the month.

Cheung Kong and URA’s My Central in Sheung Wan which was occupied last month recorded a closed sales at a large amount.

The unit is Room F on the 12th floor, with a usable area of 679 sq ft, and it had been sold on October 27, 2017 for HKD19.645 million, also the buyer had signed a formal sale and purchase agreement on November 3 of the same year, but the transaction was canceled yesterday, besides the buyer is estimated to be confiscated the15% deposit for nearly HKD2.95 million by developer because of choosing construction period payment.

On one day, Aurora record 2 closed sales immediately after purchasing.

Billion’s Aurora in Tsuen Wan newly increased 2 closed sales immediately after purchasing, and they respectively are room J on the 10th floor and room G on the16th floor of block 2, which had scheduled to be sold for HKD5.615 million and HKD8.35 million on 9th of this month, but buyers gave up and estimated to be confiscated the 5% deposit for HKD0.28 million and HKD0.4175 million respectively, that is, developer is estimated to confiscate up to a total of HKD698,250 for these two units.

Billion immediately updated the price list and raised the price of these two units yesterday. The price for room J on the 10th floor of block 2 with a usable area of 284 sq ft on the price list was increased from HKD6.038 million to HKD6.464 million, an increase of 7.1%; The price for room G on the 16th floor of block 2 with a usable area of 443 sq ft on the price list was increased from HKD8.789 million to HKD9.011 million, an increase of 2.5% an increase of 2.5%. Together with other units, this project will put on sale 27 units this Friday.

New projects only sold 10 units on a single day.

The first hand property trading was dull yesterday with only 10 units sold being blocked by the deterioration of the social atmosphere and traffic congestion. New World’s existing project Fleur Pavilia in North Point sold one four-bedroom apartment yesterday. It is room A on the 31st floor of block 1 in usable area of 1,487 sq ft, and the transaction price was HKD62.73 million with the sq ft price at HKD42,186. The buyer chose 1,440-day ( about 4 years) special long-term payment method. SHKP's St Barths in Ma On Shan sold 2 villas in succession. Among them, Jasmine Avenue12 villa in the usable area of 2,176 sq ft was sold for HKD57.8 million, a new high in the project, with the sq ft price at HKD26,563. Jasmine Avenue11 villa in usable area of 2,151 sq ft was sold for HKD52.052 million, with the sq ft price at HKD24,199.
Translated by 28Hse.com . All right reserved.