Chinese dragon year is ending while snake year is coming. At this time, market source told government would launch new strict measure to suppress property market on 28th lunar calendar. But there was no measure launched finally. Many developers announce new projects’ selling plan of Snake year in succession while the Chinese New Year Holiday. The first project in Snake year will be Sun Hung Kai’s RESIDENCE in Yuen Long. Hong Kong Ferry (Holdings)’s Green Code will also be put on sale later. The available units will be nearly 2,000 units during Chinese New Year holiday launched together by Henderson, NaFeng, Chinachem, Emperor group, Far East Consortium, Kowloon Development etc.
Sun Hung Kai’s RESIDENCE will be the first new project in Snake year. Zhang Zhuo-xiu-min, the agent business department project director (sales) of Sun Hung Kai said, the sample unit will be open officially on Next Wednesday and it will be put on sale on same day. The first batch will not less than 50 units.
Half of the ready flats in Winfield Building will be kept for renting.
In other side, Henderson will be the sale agent of Hong Kong Ferry (Holdings)’s Green Code. Lin Da-min, the sales department general manager of Henderson pointed, Green Code is a rare large project in nearly 10 years of the district. It composed by 4 buildings and supplies 728 units. The project will possible earn the sale approval within this month. So it will possible be launched in second half of this month. There are still no intention price or reference price temporary. Mr. Lin specially pointed out, their new projects will still open during Chinese New Year holiday in order that potential buyers can buy their satisfied houses.
Li Xue-liang, vice-general manager of Nan Feng real estate department said, the selling of their Winfield Building in Happy Valley is good. They consider to launch only half of the remaining units of the project. The others will be kept for renting. It is not exclude that the price of the remaining units will be increased after Chinese New Year. The mark-up is estimated within 0.5%. Mr. Li continued, Winfield Building launched Chinese New Year privilege that giving 3 buyers garden furniture which in value of HKD 80,000 as gift from now to the end of the month.
Residence 228 supplies 3% of discount and 70% of mortgage.
Wu Chong-wu, the sale department manager of Chinachem Group pointed, their three new projects wich are South Crest in Castle Peak Road, Perfetto in Tsuen Wan and Residence 228 in Sham Shui Po will launch Spring Festival privilege . Buyers who bought units before 25th February can earn parking place which in value of HKD 500,000 or decreasing HKD 500,000 of the property price. Buyers who buy the remaining 11 units of Perfetto before 25th February will enjoy 15% of discount or having a parking place as gift. Residence 228 still has 14 units left. Buyers who buy unit of this project can enjoy 3% of discount and the developer even supplies 70% of mortgage.
Yang Cong-yong, the affairs and sales department general manager of Kowloon Development said, CADOGAN still has 89 units left. The new sample unit already completed and it is estimated that it will be launched again after Chinese New Year. Since the remaining units are mostly located in medium or high floor, so the average cover area sq ft price is HKD 22,000. The intention cover area sq ft price of top floor duplex unit will be increased to HKD 40,000 from HKD 38,000. Upper West in same series estimated has accumulatively sold about 70 units. The construction period prepayment percentage will increase to 25% of the property price from 20% of the property price since Chinese Snake Year. It will up to 30% after Lantern Festival.
The admission of unit in Far East Consortium’s Sevilla Crest is HKD 4 million.
Zhang Bing-qiang, the executive director of EMPEROR IHL pointed out, their 18 Upper East and The Prince Place in Kowloon city will launch Spring Festival privilege which are gold and stamp duty. As for Far East Consortium’s Sevilla Crest, it is planed to be put on sale after Chinese New Year. The admission for open type unit in about 300 sq ft is about HKD 4 million.
In addition, New World’s The Riverpark sold 2 unit yesterday. They additional launched 5 units of 3-4 rooms houses yesterday. The average sq ft price is HKD 9,153. Developer expressed, the show room of The Riverpark will close on New Year’s Day. The open time on 2nd and 3rd day of Chinese New Year’s Day will be from 12:00pm to 18:00 pm.
