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.
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.
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
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.
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.
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.
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
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.
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.
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
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.
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
(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。