(By Ngan Lun Lok)
In recent months, many new projects are being put on sale and there is fierce competition in the market, driving developers to launch many promotion policies. It is widely known in the market yesterday, Henderson arranged meeting with agents about adding commission and rose 10% commission to promote Sai Ying Pun High West, leading the whole agent commission up to 14.5% plus with the basic 4.5% before. This news inquired to Henderson and got no positive response, while they just expressed always follow to the condition of supply and demand from different projects, and they have no comment on market sources.
Except adding commission, all sale arrangements will be the same, and the prices and payment methods are according to the original price list, besides buyers will have 3% discount for 90 days cash payment and 2% discount for 120 days cash payment or cash payment plus secondary mortgage plan, so the privilege is about 8% to 9% together with the 6% for stamp duty return, according to market information. This price list was published in lase December including 17 units, 15 among are in high levels and other 2 are top floor units with terrace.
The lowest price for small unit is HKD 8.55 million.
These 17 units are located from room A to D in 28th floor to 33rd floor, which in areas from 293 sq ft to 862 sq ft and at prices from HKD 8.554 million to HKD 33.276 million, and sq ft prices are from HKD 27,356 to HKD 38,60, according to the price list. As for adding commission, real estate agent may give some part of the profits to potential buyers as return, which is described as price cut in disguised form by market.
Lam Tat Man did not positively respond.
This news called Henderson General Manager of Sales Department Lam Tat Man yesterday, but he did not positively respond to the related questions, while just expressed they have no comment on market sources and there is specialist following in different new projects to know about the market supply-demand situation, as for High West relaunch need to be planed since it has been occupied for a certain time, also he emphasized they will publish any action of new projects, It is known, High West was finished in the end of last year, which supplies 133 units with more than 90% among are one room and two rooms units.
Agents said there is added commission for most of the remaining units.
Many developers added commission for the remaining unit of new projects in the past, because the last batch of new projects mostly are not very quality or noticed by few people, so they add commission or privilege for promotion. some agent in the district expressed. In the past, there used to have developer adding 20% commission for promotion. Asked if they will give this commission as return to potential buyer, this agent pointed their company has never surrendered part of the profits to buyers forwardly.
There was market source in earlier that Henderson will increase commission to 4% for remaining units of many projects like Cheung Sha Wan High One Grand, High One, High Point and so on. There are many small units in open style or one room among these remaining flats, which meet to recent demand, so developer rise the commission from 3% to 3.5%, and it will up to 4% if agent can sell specified units before specified deadline, then it will be same to of Ma On Shan Double Cove Grandview.
