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Henderson: DSD Relaxed Term Has Limited Capacity For Stimulating Property Market.

Squarefoot Editor  2014-05-21  #Tips For Transaction
(By Liang Yueqin) The adjustment of house changing term in DSD helps to stimulate the demand from house changing customers, including citizens have original residence in remote area which difficult to be sold out and hesitating house changing people, while this term can let them purchase house in longer pre-sale term according to actual situation, expressed by Lin Damin, the Sales One Department General Manager of Henderson. He said, although new measure is benefit to these house changing customers, but it has limited stimulation to the whole property market, while their launching steps will not be affected, and he emphasized the project sales will be on time. Mainland customer bought unit of Harbour Pinnacle by HKD 12.65 million. Service style residence Harbour Pinnacle in Tsim Sha Tsui owned by Henderson Chairman Lee Shau-kee has sold 26 units since it opened on 29th of last month, taking in about HKD 443 million, Lin Damin said. Room D in 33rd floor among sold at HKD 12.651 million yesterday. This unit is in usable area of 355 sq ft, with sq ft price at HKD 35,637, and the buyer is from mainland who bought it in company name. He pointed, the sales will continue be good because of its advantageous location, and it is not exclude that there will be mark up since Lee Shau-kee expressed the project can't be sold with price cut any more. At the same time, to promote the sales, the commission for real estate agent will be 3% plus with HKD 30,000 in next round, up 0.5% than before. For other sides, they may launch Hong Kong Ferry's (0050) Bulleley Street project in Hung Hom within this quarter after the sales of Harbour Pinnacle, which is applying sales approval currently, he said. Opus Hong Kong returns tax expense as gift. As for Swire Properties' Opus Hong Kong in 53 Stubbs Road who launched its three units in 6th, 10th and 11th floor by bidding, they started delivering bidding document from yesterday, and there is no indicative price this time, but just returning 12.5% of BSD or 8.5% of DSD as gifts. Since there are three units in different value, so there is no indicative price, and the usable areas of these three units are from 5,200 sq ft to 5,409 sq ft, while bidding will close on June 27th, expressed by Swire Properties spokesman. About first hand property transactions, Swire Properties' DUNBAR PLACE in Ho Man Tin sold one room A in 7th floor at discounted price of HKD 37.59 million with parking spot to a Hong Kong person Market source also pointed, The Graces Providence Bay in Tai Po developed by Sino and so on sold one unit in usable area of 1,568 sq ft at discounted price of HKD 26.8764 million yesterday, with sq ft price at HKD 17,141. Harmony Place in Shau Kei Wan also sold one unit.
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