2024-05-06 28Hse Editor
(Leung Yuet-kam) After the Hong Kong Monetary Authority (HKMA) relaxed the loan-to-value ratio for residential properties below HK$30 million, buyers flocked to view first-hand projects. As the first new development in the second half of the year in the Northern Metropolis, Asia Standard International’s High Park I project closed last night with nearly 2,000 checks, and tomorrow’s first sales round of 188 units has been over-registered by nearly 10 times.
188 units to go on sale tomorrow, starting from HK$4.4 million
High Park I offers 623 units, with its first sales round of 188 units to go on sale tomorrow. The units range from 287 to 498 square feet in size, covering one- to three-bedroom layouts. After a 14 per cent discount, prices range from HK$4.4 million to HK$7.1 million, or HK$12,688 to HK$15,773 per square foot.
In recent years, the Government has heavily promoted the Northern Metropolis area to facilitate Hong Kong's integration into the development of the Guangdong-Hong Kong-Macao Greater Bay Area. Hung Shui Kiu will be developed into a core business district, providing over 22 million square feet of commercial floor area. In addition, the Hung Shui Kiu Station, which is planned to be added to the Tuen Ma Line of the MTR, is expected to start construction next year and be completed in 2030. In addition, the development of the Northern Metropolis is expected to create 150,000 innovation and technology jobs.
After 25 years of development preparation, High Park is primed to benefit from its position in the Northern Metropolis. Located close to the Hung Shui Kiu MTR station planned for next year, the project is close to a large shopping mall in the vicinity. Compromising five 12-storey blocks with 1,025 units, High Park is the largest new development in Hung Shui Kiu in recent years.
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