（By Liang Yueqin）
Developers confronting strict measures by returning stamp duty to low down the price of luxury property in disguised form. Swire Properties returns cash as gift to first five buyers of Argenta in Midlevels West, with the highest subsidy of BSD (Buyer Stamp Duty) at 12% of the property price, and the largest return of DSD (Double Stamp Duty) at 3.4%, which means mainland or company buyers enjoy privilege of 15.4% at the most, according to Sales of First-hand Residential Properties Electronic Platform (“SRPE”). Other luxury projects take the chance to additional launch houses. The Graces· Providence Bay developed by Sino and etc. additional launched 20 units yesterday, at average usable area sq ft price of HKD 19,544 after 6% discount, and the prices are from HKD 13.3451 million to HKD 103.18 million, 2 units among marked up by 2%. While The Austin on Austin Station kept open for application yesterday. It had accumulatively received nearly 1,500 cases, 8.06 times of the 185 units put on sale on this Saturday, with about HKD 450 million being frozen.
Argenta in Seymour Road 63 in Midlevels West announced the day before yesterday, to return back 80% of the BSD with upper limit at 12% of the property price, 10% of the DSD with upper limit at 3.4% of the total price of property and parking lot to the first 5 buyers, according to SRPE.
The Cullinan additional launches 20 units, of which the draw lots will be on Saturday.
The additional launched 20 units from The Graces · Providence Bay include 10 feature houses firstly into the market. Thereinto, 3 units are sky pool mansions, 4 units are compound garden houses, 3 units are sky garden flat and 10 units are standard apartments, with 2 among located in room A of 3rd floor and room A of 8th floor in building 3 are marked up by 2%. Tiao Zhaoyuan, the Associate Director of Sino, expressed these units will be put on sale on this Saturday by draw lots at average usable area sq ft price of HKD 19,544 with sale prices from HKD 13.3451 million to HKD 103.18 million, after the total 6% privilege for cash payment within 90 days and Sino Club members. The Graces has sold 48 units since it opened in the beginning of this month, taking more than HKD 1 billion cash in. Seaview mansion room A of 9th floor in building 3 which latest sold was HKD 46.702 million with average sq ft price at HKD 10,747, both hit the highest of the project.
yoo Residence additional launches 24 units at original price.
Couture Homes' yoo Residence in Causeway Bay announced to additional launch 24 units at original price with the average sq ft price at HKD 37,714. They include 2 compound apartments and will be put on sale at noon this Friday by first arrive first served. Showing on price list, these units are located from 8th floor to 30th floor, in standard areas from 349 sq ft to 646 sq ft. Room G in 16th floor in usable area of 355 sq ft is HKD 11.58 million at sq ft price of HKD 32,610, being the cheapest apartment. The most expensive unit is room A in 20th floor, in usable area of 464 sq ft, and is at HKD 18.11 million with sq ft price at HKD 39,020. Developer only supplies payment during construction period within 180 days, and maintains the return of 100% ad valorem stamp duty for Hong Kong permanent citizens between 12th-27th October, with upper limit at 7.5% of the property price; Other buyers gain the refund of 50% ad valorem stamp duty at upper limit of 11.25% of the property price.
Synthesizing market source and Sales of First-hand Residential Properties Electronic Platform, 4 first hand houses sold yesterday, which included 2 units from Green Code in Fanling, 1 unit from each yoo Residence in Causeway Bay and the Reach in Yuen Long.
