Developers take the advantage to launch more. MONTARA may launch 500 houses on Saturday.
(By Shum KinLok)
Citizens’ house purchasing intention increases since the political atmosphere in Hong Kong has eased, and the Fed has great opportunities to decline interest rates in the second half of the year. The Mount Regency II in Tuen Mun and ATRIUM HOUSE in Yuen Long which were the first to be put on sale the day before yesterday sold about 90 percentage of the houses respectively on the single day, that was ideal response, and over 287 houses had been sold on the past Saturday and Sunday together with other new projects. The developers take the advantage to actively additional launch more. The LOHAS Park GRAND MONTARA in Tsueng Kwan gained over-subscription, so it additional launched 101 houses yesterday at the lowest discounted price of about HKD5.97 million after the additional launch in the day before yesterday .
The application for LOHAS Park GRAND MONTARA continued hot yesterday, and the market source pointed out that more than 4,500 cases had been collected, an over-subscription of nearly 15 times base on 303 units in three price lists. The managing director of Wheelock Real Estate, Woo KwongYiu introduced yesterday that, the No. 3 price list being uploaded yesterday involves 101 houses, with 12 in one-bedroom, 10 in two-bedroom (open kitchen), 21 in two-bedroom and two and a half bedroom, 54 in three-bedroom and three and a half bedroom, and 4 in feature houses. The usable areas are 366-789 sq ft, and the sale prices ranges from HKD7.7 million to HKD15.058 million with the sq ft prices at HKD17,248-23,376, also the average sq ft price of the price list is HKD19,351.
It is told that MONTARA had received 4,500 applications.
Woo KwongYiu continued to point out that, there is mark up of about 1% in third price list compared with the second price list excluding the landscape, floor and other factors, and the project would be put on sale this weekend as the fastest, when all over 500 houses would be possible to be launched.
The house at the lowest sq ft price is room E on 10th floor in block 1 (1B) in usable area of 715 sq ft, and its discounted price is HKD9.558 million with the discounted sq ft price at HKD13,368; The room B on 19th floor of block 1(1B) which is one-bedroom house in usable area of 366 sq ft has the lowest sale price of HKD5.968 million after discount, with the discounted sq ft price of about HKD16,306.
The project provides 5 payment plans in the price list. Buyer can enjoy a maximum discount of 22.5%, and the discounted prices are HKD5.968-11.67 million after deducting various discounts on the price list, leading the discounted sq ft prices to HKD13,368-18,117 and the discounted average sq ft price to HKD14,998.
The developer adds, 101 houses in this No.3 price list are predicted to take in about HKD1.228 billion (based on the selling price) and HKD0.951 billion after discount, and totally 303 houses from three price lists in discounted average sq ft price of HKD14,501 are predicted to take in about HKD3.593 billion (based on the selling price) and HKD2.785 billion after discount.
ATRIUM HOUSE additional launches 113 houses with mark up of 2.3%.
On the other hand, in the night before last, New World’s ATRIUM HOUSE in Yuen Long uploaded the No. 3 price list and the latest sales arrangements that launching 85 units on this Wednesday night. The latest price list involves 113 houses of open style to two-bedroom, at discounted average sq ft price of HKD16,642, which is about 2.3% higher than the average sq ft price HKD16,266 of the first price list. The Business and Marketing Director of New World Development, Woo Hoyin expresses, there are mark ups of 2% to 3% depending on the type and orientation of the houses, and until yesterday afternoon ATRIUM HOUSE had sold 117 units, accounting for over 90% of the vendible 128 houses.
Woo Hoyin continued that, the current residential property market is still active and the property market will develop steadily. It is expected that political and economic turmoil will only have a slight impact on investors but will have little impact on users. For other new projects being put on sale at the same time, he expresses there is no worry of directly competition from other new projects in the market because they are in different districts.
Mount Regency II will put on sale 18 houses on Wednesday.
As for SHKP’s Mount Regency II in Tuen Mun, it uploaded No.3 price list to additional launch 68 houses in the last night before last, and also uploaded the latest sales arrangement that putting on sale 18 houses on this Wednesday.
In addition, Providence Bay in Tai Po with Sino as the leading developer sold No.7 villa yesterday, which in usable area of 2,891 sq ft joining with garden of 1,263 sq ft, and the transaction price was HKD73.8002 million, with the usable area sq ft price at HKD25,528. The spokesperson expresses, all houses of the group’s Providence Bay, Providence Peak, The Graces and Mayfair By The Sea I&II have been sold out. In addition, the same series Mayfair By The Sea 8 in Pak Shek Kok also recorded transaction yesterday for room E on middle floor of block 22, in usable area of 682 sq ft, and the transaction price was HKD10.1557 million with the usable area sq ft price at HKD14,891. The project has sold 371 houses, taking in more than HKD3.2 billion.
