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Hong Kong Property Market - Yr.2020 Sep: Average price per sq feet $11534 1.17%   (last month:$11671)
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New Villa Projects Are Popular; 30 Sold in 12 Days.

Image Caption
Hampstead Records 3 Deals on One Day; K⋅Summit receives sales consultations before the sales.

Hong Kong Wen Wei Po (By Leong Yuet Kam)

The luxury housing market is immediately booming as the social atmosphere in Hong Kong has calmed down. Hampstead in Yat Yu, Tai Po, which is not restricted by the first-hand residential regulations, announced to change for sale from leasing the day before yesterday, with 3 houses were immediately sold yesterday at transaction prices ranging from HKD35.18 million to HKD44.76 million and the sq ft prices from HKD14,819 to HKD18,689. In the past 12 days, 30 first-hand villas in Hong Kong have been sold with the sale amount exceeding HKD3.46 billion.

The 3 villas Hampstead sold yesterday are respectively House A, House E, and House N in areas of 2,374-2,395 sq ft, joining gardens in 1,344-2,652 sq ft, and the transaction prices were HKD35.18-44.76 million with the sq ft prices at HKD14,819-18,689. The developer states that the project has been opened for VIP visits earlier, and the total number of visitors exceeded 1,800 together with visitors in the official opening yesterday, also all buyers were Hong Kongers, with one among from the same district and the other two from Hong Kong Island and West New Territories.

K&K Property: All buyers of Villas in Hampstead are Hong Kong people.

Hampstead in Yat Yu Road, Tai Po that has been rented for 13 years has 13 villas in total. The Investment Department Manager of developer K&K Property, Chang Chi-wing expresses, Hampstead is located in the traditional luxury residential area of Mid-levels in Taipu and backed by Tai Po Kau Nature Reserve, and it only supplies 13 independent villas, each of which has a private swimming pool, more than 1,000 sq ft of garden, and garden connecting to garage.

In addition, Wing Tai Properties Limited’s The Carmel in Castle Peak Road yesterday tendered and sold No. 33 villa which is four-bedroom-two-suite in an area of 1,716 sq ft connecting a garden of 367 sq ft and the transaction price was HKD28.48 million with the sq ft price at HKD16,597.

In the past 12 days, Hong Kong first-hand villa market is booming. Kingboard’s The Cavaridge in Kau To, Sha Tin has sold 23 villas through internal subscription since November 23, taking in HKD3.06 billion. The most expensive one No. 62 villa was sold for more than HKD269 million with the sq ft price at HKD25,080, and the transaction price is estimated to be the highest in New Territories after the release of the Residential Properties (First-hand Sales) Ordinance. This villa covers an area of 10,727 sq ft, connecting with a 301 sq ft platform, a 5,077 sq ft garden, and a 2,991 sq ft rooftop. As for Chinachem's Parc Inverness in Kowloon Tong and Jade Cove in Tuen Mun, they each sold one villa.

K⋅Summit received applications in an over-subscription of 2.5 Times.

On the other hand, the Sales and Marketing Director (Hong Kong Real Estate) of developer K.Wah, Wan Wai-ming yesterday expressed that K⋅Summit in Kai Tak, which has already confirmed to put on sale the first round of sales this Saturday, since 6th had received about 800 applications, an over-subscription of 2.5 times base on the 228 units being put on sale this Saturday, and there will be possibility of additionally launch with mark-up after the sales.

He also pointed out that the market sentiment gradually turned to active after the Government relaxed the property prices upper limit under mortgage insurance, and they are confident in the first round of sales since K⋅Summit mainly supplies starter homes. The Group will first sell the mainly starter homes of the project, and launch the feature houses later. He also said that many customers have expressed interest in the project's independent villas.

Both the Centaline Mortgage and the mReferral Mortgage offer two types of mortgage concessions for K⋅Summit buyers. The Managing Director of Centaline Mortgage, Wong Mei-fung expresses, buyers can apply for loans through the company's referrals, enjoying P mortgage in 2.25% and P-3% (P is 5.25%) for whole period, which is the lowest mortgage interest in current market, plus the cash rebate is 1.5% of the mortgage amount; And for H mortgage, customers have cash rebate of 1.6% of the mortgage amount, enjoying whole period interest low to H+1.24%, with upper limit interest rate low to P-2.75% (the actual interest is 2.5%).

In addition, buyers can also choose "Pre-sale Cash Payment Plan Low Down Payment Mortgage ", supplying mortgage percentage up to 80% and the whole period interest rate in P-2.5% with the actual interest in 2.75%, also there is cash rebate of 0.5% of the loan amount.

2 units from abandoned transactions in Ocean Supreme were sold at high prices.

In addition, existing project Ocean Supreme in Tsuen Wan had successively recorded 4 abandoned transactions at large amount, and Cheung Kong latest tendered and sold 2 units among, which are respectively room A and room B on the 31st floor of block 5A in same areas of 1,162 sq ft, and the trasnaction prices were HKD26.247 million and HKD26.145 million, with the sq ft prices both at about HKD22,500, 5.5% to 8.7% higher than the transaction prices last year.
At the same time, just before China Evergrande’s The Vertex offers the prices, Cheung Kong’s Seaside Sonata in the same district increases easy urban houses change discounts, providing designated houses buyers 3% additional discounts during December 7-16, expanding the maximum discount to 25%.
Translated by 28Hse.com . All right reserved.