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320 new flats snapped up over weekend

Hongkongers' enthusiasm for new homes continued over the weekend with more than 320 flats sold across three projects, squeezing purchasing power for the second-hand market.

An investor splashed out nearly HK$100 million to buy eight flats on the same floor at The Arles in Fo Tan yesterday, which means they will pay 15 percent stamp duty of roughly HK$15 million for the flats totaling 4,239 square feet.

The project, developed by Centralcon Properties, sold at least 50 of 272 flats for the latest batch of sales, as of 1 pm yesterday.

Meanwhile, CK Asset (1113) sold all the 200 flats of #Lyos in Yuen Long's Hung Shui Kui offered in the first three price lists on Saturday, cashing in HK$1.05 billion.

The fourth price list providing 90 units at an average discounted price of HK$15,817 was unveiled by the developer and the sales will be launched on Wednesday. Ranging from 202 sq ft to 482 sq ft, the prices of the new batch are from HK$3.53 million to HK$7.77 million after discounts, which are 2 to 3 percent higher than the previous one.

In Tseung Kwan O, Manor Hill by Kowloon Development (0034) recorded at least 70 transactions over the weekend, accounting for 22 percent of the 312 units offered in the batch.

In Kai Tak, Wheelock Properties received at least 1,500 checks for Monaco One, an oversubscription of 14 times for the first batch of 99 flats. Sales are expected to kick off on the weekend and a new batch with 5 to 10 percent increases in prices may be launched prior to that.

The second phase of Wetland Seasons Bay in Tin Shui Wai will open the first round of sales tomorrow, offering 136 flats, the developer Sun Hung Kai Properties (0016) said.

The second-hand market, however, was listless with only three homes changing hands in a property agency's top 10 housing estates over the weekend, down nearly 70 percent from a week ago. The number of zero-transaction real estates also rose from five to seven and no deals were reported in the three housing estates in New Territories.

In the commercial market, New World Development (0017) sold a group of shops at Mei Foo Sun Chuen for HK$455 million to veteran property investors Choi Chi-chung and tape tycoon David Chan Ping-chi after cutting the asking price by 20 percent.

(The Standard)


Hong Kong buyers bet on housing market to pick up as investor pays HK$100 million for whole floor at Centralcon’s The Arles project

While news about the border reopening is boosting demand, price-sensitive buyers refrained from snapping up more expensive units at The Arles over the weekend

As many as 116 flats of the 272 total units on offer at The Arles on Sunday were sold by developer Centralcon Properties

Hong Kong buyers are betting on an uptick in the city’s housing market amid plans to reopen the border with mainland China by February next year, according to analysts, as results of home sales on Sunday were mixed.

As many as 116 flats, or 42.6 per cent, of the 272 total units on offer at The Arles – a project by local developer Centralcon Properties that is located near the Fo Tan subway station in the eastern New Territories – were sold on Sunday, according to agents. The flats that were snapped up were each sold at a 15 per cent discount, priced at around HK$20,905 (US$2,686) per square foot.

Sales of the project have been “reasonable” on the back of news about the border reopening, agent said.

An individual spent HK$100 million on Sunday to buy the whole floor – representing a total of 8 units – at one of The Arles’ buildings, according to Centralcon Properties. Buyers of units with an area of 4,239 square feet will need to pay around 15 per cent tax.

The agent indicated, however, that price-sensitive buyers refrained from snapping up the more expensive units in the development. The prices of flats at The Arles range from HK$8 million to HK$100 million.

The results of Sunday’s sales for The Arles come a day after CK Asset Holdings recorded brisk business at its #Lyos project in Hung Shui Kiu. On Saturday, the firm sold all 200 flats offered in the first batch of sales for its #Lyos development.

The successful launch at Hung Shui Kiu shows how Hong Kong’s residential property bull run has gained momentum in recent months after a brief stumble last year, as the city’s economic recovery and low interest rates bolstered sentiments.

Still, The Arles is a crucial test on whether that momentum can be maintained this month. When fully completed in March 2023, The Arles will comprise 1,335 flats measuring between 228 and 947 square feet.

“The units are small and close to the subway station, which are quite attractive to some young people,” another said.

The third round of sales at The Arles is expected to be valued between HK$5 million and $21.8 million, with prices per sq ft ranging from HK$16,423 to HK$26,251. The Arles has posted two favourable sales rounds, selling about 47 per cent of units on offer in the second round and 82 per cent in the first round.

“Since the stock market has recently been less volatile, the overall sentiment towards the property market is pretty good,” agent said. The agent indicated that more buyers are entering the market after Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor’s policy address last month.

The government unveiled its plan for a “Northern Metropolis”, close to the southern border of mainland China, where 2.5 million people may live within 20 years. The scheme, repackaged and expanded from an existing new town plan, is seen as a major strategic change for development. It will move the centre away from Hong Kong Island to the north, integrating the city into Beijing’s latest national development plan

The metropolis will include existing new towns in Tin Shui Wai, Yuen Long, Fanling and Sheung Shui and their neighbouring rural areas, as well as six new development areas under planning or construction.

The agent predicted a 2 per cent gain in housing prices this month and in December, as well as new home sales of 25,000 units and around 4,000 unit sales in the secondary market in November.

(South China Morning Post)


新世界4.55億沽美孚一籃子鋪 投資者蔡志忠等承接 料回報約3.7厘


















早前,恒基以81.89億奪得區內庇利街/榮光街重建項目,每方呎樓面地價約1.14萬,項目橫跨庇利街、榮光街、環安街等街道,地盤面積約7.97萬方呎,可建總樓面約71.75萬方呎,預計提供約1150個住宅單位,面積最少約300方呎,一半單位不少於約480方呎,另有約100個車位的公眾停車場。目前,區內尚有市建局鴻福街/銀漢街項目招標,鴻福街1至51號 (單數) 及銀漢街2至42A號 (雙數),地盤面積約49310方呎,可建總樓面約443789方呎,預料可提供約750伙,市場估值約59.9億至62.1億,樓面呎價約13500至14000元。