The trading of second hand property was dull. But the trading of new house was active because there were many new projects launched. In past two days, there were 91 cases of trading in record. However, the volume still decreased 46.78% comparing with 171 cases which dealt on the last weekend before Chinese New Year. Sun Hung Kai’s RESIDENCE88 among has the most trading volume. Source told, the project had about 55 cases of trading in two days. Feature unit including garden which is located in room A, underground, building 2 sold at usable area sq ft price HKD 20,833. It is the latest highest sq ft price of floor units in Yuen Long. Sino’s The Avery in Kowloon City will additional launch in short term and the mark up will be 3% to 5%.
Zhang Zhuo-xiu-min, the agency department project director (sales) of Sun Hung Kai expressed, RESIDENCE88 started officially to sale the units in building 2 yesterday. Currently, including 10 platform units in 1st floor sold out. The average cover area sq ft price were from HKD 7,500 to HKD 10,000 and the usable area sq ft price were between HKD 9,755 and HKD 12,827. 2 feature units already sold. Feature unit including garden in room A, underground of building 2 sold at HKD 26 million and its sq ft price is the latest highest price of floor units in Yuen Long. The usable area of it is 1,248 sq ft with cover area sq ft price at HKD 16,425 and usable area sq ft price at HKD 20,833.
RESIDENCE88 appeared latest highest sq ft price in Yuen Long and it accumulatively sold about 180 units.
Mrs. Zhang predicted, the project will take about HKD 2.1 billion cash in after all 352 units sold out. Room G, 27th floor, building 1 which is standard unit of the project currently is at the highest cost price. The dealing price was HKD 10.948 million with cover area sq ft price at HKD 9,231 and usable area sq ft price at HKD 11,722. Market source told, Sun Hung Kai’s RESIDENCE88 sold about 55 units totally in two days. 2-3 rooms units in building 1 among were all sold out. The project has accumulatively sold about 180 units.
Buyers of the project are mostly users. 78% of them used cash payment which has 5% discount. 2% of them chose cash payment of secondary mortgage. 20% of them used construction period payment. 60% of the buyers are from same district. 30% of them are from Kowloon and the remaining 10% are from HK Island. Henderson and New World’s The Reach in Yuen Long had 22 cases of trading in record besides RESIDENCE88. Henderson’s Double Cove in Wu Kwai Sha and Cheung Kong’s One West Kowloon in Cheung Sha Wan were separately had 3 cases and 2 cases of trading.
Sino’s The Avery will additional launch units with price mark up.
Sino’s The Avery which in Kowloon City and offered price last Saturday will firstly launch 30 units at average usable sq ft price HKD 18,366. Tian Zhao-yuan, the sales associate director of Sino expressed, the project has already commissioned agent on selling. They will additional launch more units in short term and the mark up will be 3% to 5%. Source told, the project will possibly be additional launched today. Until now, 2,000 people accumulatively visited the show room in first 3 days. 25% among are longterm investors and 75% are users.
