Against stock crash, Far East Consortium new project will be additional launched with mark up within this week.
Kong Wen Wei Po News (By Zeng Minyi )
Far East Consortium single residence in Diamond Hill Aspen Crest moves fast and has launched 186 units among all 234 units since price list opened on last Tuesday. Price list of the remaining 48 units will be published couple days, and the sales arrangement will also be published at the same time, sales of which will start within this week, besides each buyer limits to two units, also the price of additional launched units will slightly rise, Far East Consortium senior sales and marketing director Fang Chun expressed yesterday on press conference.
The last additional launched 136 units of this project are 3% more expensive than first batch in average, with sq ft prices from HKD 15,991 to HKD 21,136, and the discounted usable area sq ft prices are from HKD 14,072 to HKD 18,600 after 6% for 180 days payment and extra ad valorem stamp duty allowance in 6% at the most. The registration is more active than prediction, which reflects the market accepts the price, so they plan to rise price and are confident of all sold out, Fang Chun expressed. About 8,000 people times have visited this project, and 630 registrations had been received until 3 pm yesterday, exceeding more than two times than the quota. 60% of the potential buyers are from other districts, and 20% are from New Territories, also mainland customers take 10%.
Each limits to two units and there is no priority on house selection.
To be fair, each buyer only can buy less than two units, and there is no priority on house selection, he continued. About mortgage, developer has cooperated with five banks on first mortgage, and they emphasized valuation will be sufficient, besides these five banks are HSBC(Hongkong and Shanghai Banking Corporation), Hang Seng Bank, Bank of China, BEA(Bank of East Asia) and Dah Sing Bank, also there will be other three more are under discussion.
Potential buyer: small size unit costs less.
Fang Chun believed global stock market crash has small effect to living hood projects since there is huge demand for them in the market; while Hong Kong will not follow to rise much in short term even US increases interest in the second half year, and it estimated only make monthly payment rising by HKD 1,000 at the most, so low interest environment still benefits property market. Although there is worry of stock market crash affecting property market, but the project supplies mainly small size units under 300 sq ft which cost less, so they plan to buy, potential buyer who visited Aspen Crest sample unit yesterday expressed,
Stock supports first hand property market leading 32 transactions in two days.
There is no new project in the past weekend, so only 32 transactions made in first hand residential property market being supported by stock.
They worry about effect from stock market crash, and they want to see one room unit this time because the cost is less, potential buyer Mrs. Cheong who visited Aspen Crest sample unit expressed. Potential buyer Mr. Chang said, he just invested in stock market, so the crash affects his housing. People pay attention to Aspen Crest because its units are small and cost less. Asked if he worry it may be crowd, he replied helpless " We have no other choice!"
