2024-05-10 28Hse Editor
The Hong Kong property market has always been dominated by new off-the-plan properties. Sales in the first two months of this year are still booming. However, the property market seems to be undergoing drastic changes since March. The sales of off-the-plan properties in many urban areas have braked sharply, and they are quickly entering the market. For example, Tuen Mun Royal Bay II, which has just opened prices, and existing properties such as Lohas Park LP6, as well as second-hand properties, have been selling well, and there have been many cases of queuing and breaking the top. Industry insiders pointed out that reflecting the current market user dominance, existing buildings are more attractive than uncompleted flats, both for self-use and rent collection. Many new uncompleted flats will soon be launched. It is expected that developers will offer the first batch of units slightly lower than the market price. Attract market attention.
reporter Liang Yueqin
In fact, many land kings that won the bids at high prices two or three years ago have been launched this year, including Anderson Road, Kwun Tong, On Fung, Southwest Kowloon, Victoria Harbor, etc., when land was invested at high prices, developers naturally did not want to sell at a loss. floor. Seeing the hot sale of new properties in the first two months of this year, developers are naturally eager to attract customers and cash out at high cost prices. Unfortunately, property sales are now hit by the Hong Kong economy that has been hit hard by the epidemic, and user-driven attitudes in entering the market have also changed. Second-hand properties under ten million yuan can also apply for a high-end mortgage, which makes new properties and second-hand properties more attractive and robs a group of purchasing power.
In recent months, the sales of new off-the-plan properties in many urban areas have been cold. On Fong, Anderson Road, Kwun Tong, which has an uncompleted period of about two years, announced the first price list at a discounted average of RMB 20,363 per square foot in early February this year. The developer Chinachem has provided it. The stress-free test plan (commonly known as breathing plan), which is 90% of the highest property price, was implemented. Unfortunately, only 3 units were sold on the first day of sale.
SHKP decided to suspend sales ten days after the opening of PRINCE CENTRAL in Ho Man Tin; this year’s focus on new developments, the off-the-plan "Land King" project in Southwest Kowloon, which is about 2 years old, will be the second round on April 11 on a first-come, first-served basis. 88 units have been sold, and the sales have reached a new record of zero transactions in the past 6 years. On April 10, Shanglong, which had an off-the-plan construction period of about one and a half years, sold 30 units in the first round on April 10, with an average discounted price of RMB 29,915 per square foot. This is the highest price in the new market in Xiyingpan, but only 4 units were sold throughout the day.
On the contrary, LP6, which is already occupied by Nan Fung's Lohas Park, re-sold 19 units of existing buildings for "tart orders" on April 6, attracting 345 groups of buyers to line up downstairs at the sales office to compete for purchase, and 18 units were sold on the same day. Other fast-moving properties and existing properties, such as SEA TO SKY and Shanshuiying, have also sold well.
Royal Bay II received more than 400 votes on the first day
Seeing that market conditions have changed, developers have also changed. After the suspension of the Ho Man Tin PRINCE CENTRAL, SHKP immediately switched to the main large-scale unit, Long Per Mountain, Shatin, and put it on sale by tender. At the same time, it also launched the fast-moving Tuen Mun Royal Bay II, which opened last week at an extremely expensive new market price per square foot in Tuen Mun. The heads of state launched 88 units with a discounted average price of 18,419 per square foot. Ticket collection began yesterday, attracting a large number of people to line up to visit the show flats in the existing building and get tickets. According to news, as of 7:30 pm yesterday, more than 400 votes were received on the first day. Register 3.5 times
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