Kong Wen Wei Po News (By Leong Yuet Kam)
Hong Kong stock is still unrest, but the effects to new projects are different. At last weekend, new project sale was still dull. However, Sun Hung Kai's Century Link II first batch 328 units which are launched at market price were selected by draw lots order at 10:15 am yesterday, source pointed, all had been sold out until 6:25pm yesterday, and many potential buyers are investors. Insiders believed, Century Link II additional launched units will be also popular if the price is still good. Registration for Kowloon Development's Upper East in Hung Hom first batch 368 units closed at 9 pm last night, source pointed more than 2,400 registrations have been collected, exceeding 5.5 times than quota, and the house selection will be on tomorrow morning.
Century Link II first batch 328 units which received 6,189 registrations are in layouts from one room to three rooms with one suit and at sale prices from HKD 4.2977 million to HKD 8.6021 million, while discounted prices are from HKD 3.8249 million to HKD 7.6558 million. At 8:45 am to 10 am yesterday, first round 580 groups potential buyers registered first, and draw lots for house selection was at 10:15 am after, then house selection started immediately. Source pointed, about 371 groups potential buyers in first round attended, with attendance in about 64%, and about 277 units in first round were sold; First 20 groups selected satisfied units, and about 12 groups bought 2 units. Actor Lam Chi-Sing got number 215 and spent HKD 4.87 million to buy one unit in 384 sq ft.
The sales will be assure if additional launched unit price is still good.
Yesterday, their customer attendance was nearly 90%, and 5 groups each bought 2 units in the first 15 minutes, one group among from Mei Foo Sun Chuen spent nearly HKD 15 million to buy 2 units in layout of three rooms, Centaline Property Asian Pacific Region Residential Department President Chen Wing Kit expressed. About 15 to 16 groups big customers attended yesterday, and foreigners among Centaline customers take 5%, he said.
Recent stock market crash hasn't caused large close down, and citizens still have funds but they have less confidence; While second hand property market is affected larger, and many owners are strong on price, leading transaction down, Chen Wing Kit pointed. On the contrary, developer uses flexible marketing policy for first hand project, sales of which is still assured if the price is good; Century Link II and Upper East additional launched units will be also popular if the price is attractive. This month, market focus on these two above projects, and it is estimated their additional launched unit price will be reasonable and the first hand property transaction in full month will up to 2,000, double by month.
Tung Chung prospect is good; Rate of renting return is high.
Century Link II has capital construction and development potential to attract many investors; Midland investors take about 40%, which is high, Midland Residential Department Chief Executive Officer Po Siuming pointed. Midland first round attendance was up to about 90%, many among are foreign buyers, and New Territories customer source takes about 60%, while the remaining 40% are from other districts. Since Tung Chung renting demand is huge, up to more than 10 thousand renting transactions each year, plus with the rate of renting return of Century Link II will possible be about 4%, also it has good development prospect, so many investors are attracted. Besides the project is near airport and it is popular with flight crew, so foreign customers and mainland buyers take about 10%, 3% to 4% among are mainland customers, while 6% to 7% are foreigner.
Recently the launch of Century Link II drags market attention to Tung Chung district again, driving potential buyers' purchasing plan, Po Siuming said. Second hand property in the district is benefited, so Tung Chung still registered about 35 second hand property transactions in August which similar to 33 transactions in July even under stock market crash. Taking indexing project Caribbean Coast as example, the transaction price in August rose by nearly 4% than of July, showing buyers' confidence of this district.
POSITANO remaining 7 units price will rise by 5%.
Discovery Bay POSITANO published to rise the price of the remaining 7 units by 5% yesterday, which are 6 compound apartments on 1st floor and 1 compound apartment on top floor in usable areas from 1,398 sq ft to 1,743 sq ft, and the sale prices will be from HKD 25.648 million to HKD 40.208 million after mark up. Buyers can enjoy 18.18% or 18.6% discount base on different units, and buyer can have 19.8% or 20.2% the most discount if recommend by POSITANO house owner, besides these 7 units will be put on sale by first arrive first served on next Monday.
Rykadan Capital Limited's PASEO in Tsim Sha Tsui Kwun Chung St has sold 40 units in 7 days since it opened on last Friday. There are investor and related people spent about HKD 20.2 million to buy 4 units for investment and renting, three among room 6A, 8C and 12B are owned by one same buyer which cost totally HKD 15.444 million; While the other 6B was purchased by the related people in amount of HKD 4.755 million, Rykadan Capital Limited project director Hung Ying Wai expressed.
