Buyers request to visit the houses immediately. Agent: They look good at the property prices in Kai Tak.
Transport and Housing Bureau yesterday announced to open the Tuen Ma Line phase one on Valentine's day of February 14, and the newly Hin Keng Station, Diamond Hill Station extension and Kai Tak Station will enable, leading the prices of properties along the route to rise. The reporter hereby directly broadcasts the market situation of the housing estates along the line. Among them, an index housing estate The Latitude near Kai Tak Station in San Po Kong takes the first to record the transaction of price rising, and there are even potential buyers from the same district requesting house visiting immediately, reflecting the rising market sentiment. Some agents believe that the housing estates along Tuen Ma Line phase one will outperform the leading market, and the prices for nearby housing estates enjoying multi-infrastructure around Kai Tak station are rising.
(By Lai ChiTin)
Woo Man-kit from Ricacorp Properties expresses, with the announcement of the open of the Tuen Ma Line phase one, the house visiting appointments in Kai Tak yesterday immediately increased by 30-40%, and two groups of customers wanted to visit immediately. Woo Man-kit points out that, the property prices in Kai Tak has adjusted with the leading market in the past, and the school network, railway, and future large shopping malls and office buildings in the district are better than those in other regions, so the property prices in the district will outperform the leading market this year after the opening of the Tuen Ma Line. Woo Man-kit points out that the properties on sale in this district are not many, with about 30-40 units in the whole Kai Tak, and the prices of 15 units among are close to the market prices.
Woo Man-kit reveals, there was a seller rising price immediately yesterday, which is a middle-rise two-bedroom unit in block 6 of The Latitude, and the seller has asked for HKD11 million but decided to increase the price to HKD11.5 million after learning the news of the opening of the Tuen Ma Line. Woo Man-kit adds, the second-hand properties on sale in Kai Tak are mainly from The Latitude and One Kai Tak, with 14 and 8 units respectively from which being put on sale at the second-hand market prices, and the lowest price for two-bedroom units of the former is HKDK9.6 million, for three-bedroom units is HKD13 million, while the lowest price for the one-bedroom units is HKD9.5 million, for two-bedroom units is HKD13 million.
The price for two-bedroom units in The Latitude in increased by HKD0.5 million.
For Diamond Hill Station, Ho Wan-tak from Ricacorp Properties says, the housing estates near MTR station are Galaxia and Lung Poon Court. Ho Wan-tak mentions that the news of the opening of the Tuen Ma Line immediately increased the number of housing visiting by 4-5 groups, but there is no closed transaction with immediately mark up since there had been price rising in earlier, while it is predicted that this situation will gradually increase and the possibility of outperforming the leading market in future is high. He mentions that there are 30 units in Galaxia are on sale, and the lowest price for three-bedroom units is HKD9.35 million, besides Lung Poon Court has more than 20 units on sale at the second-hand HOS prices above HKD4 million, while above HKD5.5 million in free market.
The sq ft price in Lung Poon Court is HKD15,722.
Ho Wan-tak points out that, the trading in the nearby public housing market that has low property prices is ideal, and Lung Poon Court has recorded many transactions after entering the new year, with 5 cases being recorded this month temporarily, which is faster than last month. The market has recently recorded a transaction of high-rise room 1 in block B of Lung Poon Court, and it is a one-bedroom unit in about 353 sq ft facing south to the inside garden. This unit was recently sold for HKD5.55 million including land premium, and the discounted sq ft price is about HKD15,722.
Besides, recently, "king of public housing” also appears in Fung Tak Estate, Wong Tai Sin, a little further from MTR Diamond Hill station. According to the land registry, middle floor room 20A in Pik Fung House, Fung Tak Estate, in usable area of 153 sq ft, was signed the formal agreement for sale and purchase on last 23rd and sold for free market price of HKD2.98 million, with the sq ft price up to HKD19,477, breaking the record of HKD19,226 per sq ft of the project made in last July.
"King of public housing" appears frequently in Hin Keng Estate.
As for Hin Keng Station, Ip Bo-Lun from Mang Fong Property Limited expresses, since the implementation of the Tuen Ma Line project, the trading in Hin Keng area has been booming, with 4-5 second-hand HOS property transactions being recorded in average each month, and "King of public housing" appears frequently after the sq ft price has risen a certain range, so it is estimated that the property prices in this district will rise benefit from the opening to traffic. Ip Bo-Lun points, the properties on sale in this area are not many, and Hin Keng Estate and Ka Tin Court have 5 units can 3 units respectively, besides the lowest green-form price for the former is HKD3.85 million, while the lowest free market price for the latter is HKKD5.35 million.
At the beginning of the year, Hin Keng Estate even makes the second-highest record of public housing in Hong Kong. The market source points out that, middle floor room 7 of usable area of 544 sq ft in Hin Fu building, Hin Keng Estate, which can be used as a three-bedroom unit, was sold for HKD6.18 million, with the usable area sq ft price at HKD11,360. According to the data, the current highest transaction price in the free market for public housing in Hong Kong is from middle-rise room 10 in Hin Gwai building of the same estate, and it was sold for HKD6.65 million in 2018, thus the above transaction price is the second-highest for public housing in Hong Kong. At the beginning of 2017, the original owner purchased the unit for HKD3.45 million together with land premium, earning book profit of HKD2.73 million or 79% after holding for about 3 years.
