8200 units estimated to get into the market in this quarter; Cheung Kong launched 3 projects including 4436 units, which take about a half.
Content (Length: 1043)
（By Tu Ruoben and Huang Jiaming）
Federal Reserve System (Fed)'s prediction of interest rising in advance push developers preparing to launch more new projects, which is pursued actively by buyers. 93 units of Trinity Towers Cheung Kong (0001) put on sale yesterday are all sold, plus with two rounds of house selection in earlier, the whole 402 units of this project are all sold out in two weeks, which is the first project from Cheung Kong being sold out after the sale of two residential projects (the Rise in Tsuen Wan and DIVA in North Point). The remaining three large projects will be launched by order, which will be City Point in Tsuen Wan, Hemera in Tsueng Kwan and Lanshan in Tai Po, supplying totaly 4,436 units, disclosed by Zhao Guoxiong, the Executive Director Cheung Kong.
Cheung Kong launched the last 93 units of Trinity Towers yesterday, register of which was started at 9 am, and the draw lots was at 11 am. There were 50 buyers selecting houses in the first hour after sale, and all units sold in two hours. Zhao Guoxiong expressed satisfaction with the sale, and said the draw lots was fair, also customers believe the price is reasonable. Although the signing of contract was a little slow because developer and agent must explain the contract clearly to each buyer according to the requirement of the Residential Properties(First-hand) Sales Ordinance, but the whole process was smooth, and the site was orderly.
Sun Hung Kai becomes the Sale King in first quarter.
In the second quarter, Fed's prediction of interest rising in advance push developers preparing to launch more new projects. Many large projects will be put on sale at any time. The second quarter of this year estimated to become the peak term of new projects sale. Many of them are large projects above one thousand units. It is predicted there will be more than 8,200 units supplied, which will maintain the hot trend of first quarter.
Large scale projects will be launched.
Although there are many negative factors in property market, but developers' sale in first quarter was still good, Sun Hung Kai among even became the Sale King, both projects of Riva in Yuen Long and Century Gateway in Tuen Mun from whom sold most of the units in first month. Another side, Cheung Kong's Trinity Towers in Cheung Sha Wan which was put on sale in the end of last month had been hot since first day open, although there was case of deposit confiscation, but the whole market reaction was still hot, so developer took the advantage to launch the remaining units.
Besides, Cheung Kong's new projects which are LOHAS Park 3 Hemera in Tsueng Kwan, Lanshan in Tai Po, and City Point in Tsuen Wan will be put on sale in succession in the second quarter, which may possible reverse the dull situation of the first quarter. Three of these large scale projects had received pre-sale approval, which means the sale can start at any time, and the total supply from them will be 4,436 units. Plus with units from other projects that may be put on sale in this quarter, such as Soundwill Holdings' COHO in Causeway Bay, Sun Hung Kai's Mount One and The Woodside, which will be launched around Easter at the soonest, there will be more than 8,200 units predicted to be available in this quarter.
Among these 8,200 units, three projects from Cheung Kong supply up to 4,436 units, more than a half, with each of them in large scale including above one thousand units. The brochure of City Point had been submitted to MTR and West Rail who are partners for assistant inspection, and it estimated to be uploaded within this month, so the project may be put on sale in this month, first batch of which will have discount, and the sample flats has completed, expressed by Zhao Guoxiong who is Executive Director of Cheung Kong in earlier. City Point is located in 7th district of Tsuen Wan West Station, including 7 buildings of 1,717 units, which is another large new project after Vision City opened in 2007.
The next project may be LOHAS Park 3 Hemera in Tsueng Kwan, plus with Lanshan in Tai Po, the three large projects will possible be launched in first half year, pointed by Zhao Guoxiong. In fact, Cheung Kong had expressed want to sell 3,000 units and take in HKD 30 billion in this year, but they only sold about 10% in first quarter; So their 4,436 pre-sale units which can be put on sale at any time will flow to the market in this quarter. Reviewing history, Cheung Kong has been always focused on large quantity units in cheap price, so it will lead the first hand property market in this quarter.
Mount One planed to be put on sale in Easter.
As for Sun Hung Kai who claimed having houses for sale each month, its Mount One in Fanling is the major new project in this month, which has opened sample flat to media in earlier, and this project estimated to be put on sale in Easter. It is in single building design supplying 144 units in layout from two rooms to four rooms, with usable areas from 511 sq ft to 1,754 sq ft. The group will put on sale two villa projects in second quarter, including Seascape Villa in Tsing Lung Tau and Twelve Peaks in Peak, while The Wings III in Tsueng Kwan will planed to be launched in the third quarter, pointed by Lei Ting, the Vice Managing Director of Sun Hung Kai.
New World also announced the first price list of its new residential project The Woodside in Yuen Long, which supplies 30 units, 6 among are 1st floor units with platform and 6 other among are top floor units with terrace; The sale prices are from HKD 3.726 million to HKD 8.913 million, with sq ft prices from HKD 7,990 to HKD 11,621.
About Henderson whose Double Cove Starview sold nearly 800 units in last quarter becoming the Sale King of new project in first quarter, its property sale in second quarter may not keep up with other developers, and it is estimated they only have 8 Minden Avenue project in Tsim Sha Tsui which was service style residence in former and is named Harbour Pinnacle currently, while they planed to sell it instead of renting, with total supply in about 262 units. And there are also High Park Grand in Mong Kok (41 units) and 186-198 Fuk Wing Street project (110 units) in Cheung Sha Wan.
