2024-04-29 28Hse Editor
The government's reduction in stamp duty on first home purchases and developers’ lowering of opening prices have accelerated the pace of sales for hot new developments. Chinachem and MTR's Ho Man Tin Station Phase IB will open for sale today, with a first batch of no less than 50 units; CK Asset and Sun Hung Kai Properties’ (SHKP) Grand Jete Phase 2 in Tuen Mun will open for sale tomorrow, with a first batch of no less than 80 units, about 60 per cent of which are one-bedroom units, priced below HK$4 million. Meanwhile, the sales brochure will be uploaded this week for KOKO MARE – Phase 3B of KOKO HILLS in Lam Tin, a subsidiary of Wheelock Properties – with prices to be announced next week. Leung Yuet-kam
According to Helen Fung, director of sales at Chinachem Group, the first batch of no less than 50 units, including one-bedroom to three-bedroom units, would be offered at discounted market prices within 24 hours of the opening of In One Phase IB at Ho Man Tin Station. The project will be open for public viewing this Friday and will be launched for sale within this month, with a large group of customers expected.
She added that the project has received many inquiries since the brochure was uploaded last week, with customers mainly coming from the local area, Hong Kong Island and New Territories East. In line with the Group's efforts to reduce paper waste, the developer has introduced the My Places By Chinachem Group mobile app. Prospective buyers can use this app to view sales brochures, register tickets, and check ballot results.
On the other hand, Moni Yeung, assistant chief manager of sales at CK Asset, said that the first price list for the development of Grand Jete Phase 2 with SHKP will be opened tomorrow, with no less than 80 units and nearly 60 per cent of them being one-bedroom units. The batch of one-bedroom units is likely to be priced below HK$4 million to encourage young people to buy their own homes. Information shows that the one-bedroom units in this development range from 263 to 284 square feet in size.
CK Asset: Aiming to launch more units and sell all available units
Yeung said that the sale would be on a ‘quantity first, price later' basis. She added that if tomorrow’s offering prices received a positive reception, more units would be launched for sale with the aim of clearing the market, while also providing easy payment methods. Yeung said that the sale of 238 units in Phase 1 of Grand Jete generated a total of HK$1.3 billion in cash.
KOKO ROSSO at Lam Tin, a subsidiary of Wheelock Properties, sold out its first two rounds of 308 units quickly, and KOKO HILLS Phase 3B is to be named KOKO MARE. Ricky Wong Kwong-yiu, managing director of Wheelock Properties, said that the sales brochure for KOKO MARE would be uploaded within this week and offering prices next week, and strive to launch the sale within this month to meet market demand. The price will be based on the average price of KOKO ROSSO’s units, which were sold at HK$18,740 per square foot. As 60 per cent of the units in Phase 3B have sea views, prices will be raised by up to 10 per cent.
KOKO MARE, comprising Blocks 8 and 9, offers 444 units, with 99 of which are one- and two-bedroom flats, ranging from 310 to 529 square feet. The remaining 1 per cent are three-bedroom units, with an off-plan period of less than 15 months. Wong expects a majority of the units to be priced at around HK$6 million to HK$9 million, which will appeal to young families.
Wheelock sells 434 units within this year, rakes in HK$5 billion
According to Wong, Wheelock has sold about 434 units in less than three months so far this year, with total sales reaching HK$5 billion.
Star Properties' After the Rain in Yuen Long was put on sale again yesterday, with 34 units ranging from open-plan to two-bedroom units with a study room, and areas of 276 to 717 square feet. The average price per square foot is HK$15,349 per square foot after a maximum 6 per cent discount for immediate payment.
143 units of After the Rain in Yuen Long to be sold on Saturday
The first round of 143 units will be put up for sale this Saturday at discounted prices of HK$3.9587 million to HK$12.0116 million, with tickets closing at 8pm tomorrow. Buyers can purchase one to two units.
The sale will close tomorrow night at 8pm and buyers can purchase 1 to 2 units. Kowloon Development's Manor Hill in Tseung Kwan O put 172 units on sale yesterday. 12 units will be available for sale this Saturday, all of them 245 square-feet open-plan units, at a discounted price of HK$4.426 million to HK$4.924 million, or HK$18,067 to HK$20,098 per square foot.
NOVO LAND Phase 2B records first transaction
The first transaction was recorded for Phase 2B of SHKP's Siu Hong NOVO LAND in Tuen Mun. According to transaction records, the unit is a 305-square-foot, one-bedroom flat on the 17th floor of Block 1B. It was sold in the first round of sales on March 4 at a price of HK$4.3554 million per square foot, or about HK$14,200 million per square foot. However, the unit has been listed as cancelled and the buyer is expected to be forfeited a 5 per cent deposit by the developer, which is about HK$220,000.
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