Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum) Hong Kong have regal everywhere, Arezzo in Seymour Road,The West of Mid Level with with the price of HKD $2.228 ten million to HKD $2.958 ten million per unit,the first batch of 50 units have started to choose the flat in form of ballot yesterday,sold out in just 2.5 hours,The developer Swire Properties cash of about HKD $1.23 ten billion.It is understood that the developers in order to sell the units as soon as possible, in addition to more than 10% higher than the asking price than the market price, also the estate agents provide up to 4% commission.Comprehensive real estate agent news,more than half of buyers tare investors,of which there are three groups of Hong Kong investors to buy two units for rental-use,industry estimates rental rate of return of about 3.5% per annum.
Industry insiders pointed out that the first-hand residential properties hot sale this year,especially in the past month most of the new properties was released for sale,developers using ultra-high sales commission has been reduced circumstances and Swire Properties anti-its way to 3% plus 1% higher commission fee with low prices to sell Arezzo,reflecting Swire Properties eager to cash in,or wanted to speed up the capital return of the expansion of Taikoo Place,related to reduce borrowing costs.
The first three buyers have bought 2 units for rental-use respectively
Swire Properties director (residential services) Do Wai Yip said yesterday,the first batch 50 units of Arezzo have received a total of 130 votes,with over 80 groups of buyers have arrived the scene yesterday in order to choose the unit.Sources said the first three chips are Hong Kong investors,buying units for rental-use.The buyer who held the first chip have bought units located in Flat B,28/F and Flat C,10/F,as for the buyer who held the 2nd chip bought Flat C,32/F and Flat C,33/F,as for the 3rd chip buyer bought Flat B,22/F and Flat C,22/F,they are all Hong Kong buyers.
Centaline residential president, Asia Pacific,Chan Wing Kit pointed out this subscription of Arezzo through the line for about 60 percent of prospective buyers to investors,due to the large hand-off priority lottery pick floor, through the Central Plains into the big hand-off ticket about 4-5 groups estimated market about 7-8 group off into the big hands vote,this property with the sq.ft lease price of HKD $70, the rate of return of about 3.5%. He pointed out that due to the Mid-West,there are very little supply of residential projects which with the price of less than HKD $2.0 ten million in recent year,so it is attracting many investors, the majority of the remaining 40% are the buyers who wanted to change their flat.
Chan Wing Kit believes that the mansions which involved in the price of HKD $1.0 ten million to HKD $2.0 million in the next quarter will chase behind, it is expected there will have 5% increase,the annual total expected annual rate of increase of about 8%.
Hong Kong Island buyers accounted for 75%,half of them for home-use
Midland Realty Chief Executive Of ficer of Residential Department Pu Siu Ming yesterday that Arezzo inThe West of Mid Level sell with the low prices,coupled with the new properties in Western District keep on launching out for sale,to absorb a lot of purchasing power,the buyers from the group,home-use buyers and investors with the proportion of half-half,Hong Kong Island buyers accounted for approximately 75%.
The first batch 50 units of Arezzo in Seymour Road,The West of Mid Level priced from HKD $2.228 ten million to HKD $2.958 ten million,the price per square foot of HKD $24,457 to HKD $30,307.Calculated according to the price list, with an average price of HKD $27,159 per sq.ft,11-17% below the line of the average price of the new property Azura and Argenta in the same district .According to the price list, the first batch of 50 units of Arezzo located in Flat B and C of 7/F to 35/F,the provisional sale and purchase agreement signed by the buyer will receive 4.25% price discount on or before October 15,while the part of the developer buyers valorem stamp duty and stamp buyer cash rebate, including the first 30 buyers to pay ad valorem stamp duty to provide 4.25% cash rebate, and to the first 10 buyers to pay stamp duty of the buyer to provide 3.25% cash rebate.
Arezzo with 48 layers,providing 127 residential units with clubs,but no parking spaces.
As for the other new properties,SHKP The Wings IIIA in TKO have launched out a new batch of 155 units for sale,including four penthouses and will put up for sale on Friday,another 151 standard units will put up for sale this Saturday.Nan Fung The Visionary in Tung Chung sold 5 units yesterday.
