Kerry Properties won the bid of Beacon Hill with HKD $2.4 ten billion
Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok)The property prices keep on breaking a new high records in recent months,the market without fear of government leaked add spicy, returning to the Crown land sale of reproduction ‘king of the land’ deal. Kerry Properties yesterday with the price of HKD $2.3898 ten billion won the Beacon Hill land in Kowloon Tong, the floor price reached HKD $20,534 per square foot, in addition to 36.89% higher than the upper end of market expectations, but also hit a new high land prices per square foot in Kowloon,flour expansive than bread,to become the new ‘king of Kowloon land’.Kerry Properties is expected to invest HKD $4.0 ten billion for development, to build luxury detached and low density stratification. Surveyors expect, then gave birth to a SHKP king market, reflecting the developers quite bullish on the outlook of the future utility price per square foot project is expected to be more than HKD $40,000,compared with the current age of the newer district used about HKD $20,000 sq ft mansion prices doubled.
Beacon Hill in Kowloon Tong Lung Cheung Road site last week, received 20 bids tender, enthusiastic market response,consortia which entered the standard are quite strong,except for SHKP,Cheung Kong, Henderson Land, New World, and many more rooms Small developers have bid for, and even state-owned CITIC CITIC Pacific's shares are also copies of the standard property. But eventually lost to "edge of worms," Kerry Properties,the Lands Department announced yesterday, Kerry won the bid with the price of HKD $2.3898 ten billion,with the floor price of HKD $20,534.
Kerry Properties limited to be built super mansion with HKD $4.0 ten billion
Kerry Development executive director Chu Yip Pu said yesterday, the project can be built 116,000 sq ft of floor, the investment of about HKD $4.0 ten billion,will be built over 20 detached houses and two co-partner of more than 30 layered units,for 40-48 months within the completed development projects similar to Ede Road project,did not rule out the future in the form of forward sale flats.Chu Yip Pu refers to recent government push to focus on the development of small and medium units, reducing the degree of high-profile luxury market, but the supply is also small, and the company is very optimistic about the emphasis on the luxury market,so it is believed that may be the focus of this year's market.
Asked for a lively discussion about the uniuts involved in small amount of price will bust the argument recently,he thinks the market still have needs,people need not worry too much. Kerry Properties itself in Kowloon Tong, Ho Man Tin, a mansion with a rich development experience, search of records, in 2010, Kerry to absorb a total of two mansions in the area, including 1 Ede Road, Kowloon Tong Chang Ho Man Tin Lok Street junction with Sheung Shing Street, Ho Man Tin site which most expansive single meter land has HKD $1.168788 hundred billion,Ede Road site is approximately HKD $1.285 ten billion.
Do not fear of government leaked ‘add spicy’
Rating and Valuation Department data released last week showed that private home prices index rose to 277.6 in December last year, moving up nine months and a new record high, the annual increase of 13.26%, the Government and the HKMA have leaked refers again and again does not rule out a counter-cyclical property management measures. Kerry is second to HKD $20,534 per square foot of floor price "astronomical" bid, forcing market confidence surprise. According to previous market forecasts, land valuation is only $ 8,000 to $ 15,000 per square foot, that is higher than the upper limit of the market price is expected to be a full 36.89% more expensive. Kowloon land while hitting a new high floor price, off the "king of Kowloon," the throne, land prices per square foot in the Kowloon district rankings, the first three lands with the highest prices recently,Kerry Properties swept first and third, the third highest land was 1 Ede Road which developed by Kerry Properties. (See table)
The price per square foot in the future can sell with the price of HKD $40,000 per sq.ft
However,Agwilkinson valuation surveyor director Lam Chun Chiu believes that the project with the reasonable transaction price,except as ideally located in the traditional luxury residential area, landscape projects are also very open upon completion,also has a connection near the feeder road, traffic quite accessible. Project to go over the high road, development density is not high, the future is expected to be built apartment houses and individual characteristics, the price per square foot of salable area up to HKD $38,000 or more, and depending on the developer's brand and the materials used, the price per square foot in the future but also more than HKD $40,000 level. At present, the newer area of old second-hand price per square foot mansion,range from HKD $13,000 to HKD $24,000, of which the latest price of second-hand-foot Mount Beacon of about HKD $24,000 per sq.ft.
Lands Department also announced the same day,Kwai Chung Shing Yiu Street industrial land tender results, Shun Hing Group and Shun Hing commercial development successful won the bid with the price of HKD $4.489 billion,with floor price of HKD $3,472.Shun Hing Group Chairman and Chief Executive Officer Mon Dak Yeung said the land can be built on 129,000 square feet of floor area, will be merged with the adjacent development of Shun Hing center will help promote the Group's future and expand their businesses. Shun Hing Center is Shun Hing Group's own property is also Shun Hing Group of electrical service, logistics base, mechanical and electrical engineering and systems engineering services.
