Developer additional launches 127 units and to sell them next week.
(By Liang Yueqin)
The Fed (Federal Reserve System) declared no interest rising temporarily, maintaining Hong Kong property hot market. In Tsueng Kwan where there have been many new projects launched and about 4,000 to 5,000 units have been sold, the demand is still huge. Corinthia by the Sea in Tsueng Kwan South which are mainly small-medium flats put on sale 388 units including first batch and additional launched units yesterday morning, and 384 sold until last 7 pm. The Sale Department Associate Director of Sino Tian Zhaoyuan expressed about HKD 3.3 billion was took in. Developer Sino and K.Wah immediately additional launched 127 units last night, which will be put on sale next Monday.
Corinthia by the Sea received more than 8,000 registrations for this launch. Yesterday, to order the sale procedure, draw lots held at 8:45 am and house selection started at 10:30 am, besides developer dealt with 100 cases each half hour, also they rent two restaurants nearby the sales office for check-in. The Executive Director of Sino Daryl Ng Win Kong attend personally with his two brothers, Huang Yonglong the Executive Assistant to the Chairman and Huang Yongyao the Project Assistant of Sino. The sale prices of these 388 units are from HKD 5.487 million to HKD 19.904 million, and the sale prices are about HKD 4.69 million to about HKD 17.02 million after discounts, the highest of which up to 14.5%. For the additional launched 127 units last night, the usable areas are from 540 sq ft to 1,215 sq ft, and the sale prices are from HKD 8.184 million to HKD 28.129 million, the highest discount for which will maintain in 14.5%.
Source spread there was buyer purchased four units by HKD 57.05 million.
Source pointed, yesterday, one buyer spent about HKD 57.05 million to bought four units, also there were 12 buyers who purchased two at once. Attendance of potential buyer through their company for Corinthia by the Sea was about 60% to 70%, which is not very high because there were overlapping registrations since each can register six applications at the most, and the ratio of user to investor is 8 to 2, the Asian Pacific Region Residential Department President of Centaline Property Chen Yongjie expressed. More than half of the customers intend to buy three rooms unit facing sea, who may be the potential buyers of Hemera, He said, The Fed's indication of no interest rising in short term is good to Hong Kong property market, plus with the stock market is good, both of which promote the luxury property transactions in recent months, and it is estimated this hot will be maintained in a certain term, he believed.
The attendance for Corinthia by the Sea was about 80% base on check in number of 500, 65% among are from Kowloon mostly are user, and there were about 6 to 7 groups intended to buy two units at HKD 15 million, besides the predicted rate of renting return is about 4%, the Residential Department Chief Executive Officer of Midland Bu Shaoming expressed.
Midland: Customers are mainly users.
In the term of registration for Corinthia by the Sea, the second hand property transaction was not affected, and 31 transactions occurred which was normal, Bu Shaoming pointed.
