Article from (Reporter: Ngan LunLok, Trainee Reporter: Pang ChuoHua) New flats are selling good in the 4 days holiday combining Mid-Autumn festival and National holiday. Century Gateway in Tuen Mun has sold 33o flats, while Double Cove in Tai Po has sold 55 flats. Overall, there were 457 flats sold in 4 days, which is 5.2 times higher than last year. On the other hand, information indicates that Zhao Wei has invested HKD 200 million to buy flats and commercial building.
Deputy director and general manager of Sun Hung Kai Properties Lui Ting reveals that 300 flats of Century Gateway have been sold, while 90% of them are 3-room flats, others are 2-room flats. According to source 65% of buyers are from New Territories, 20% are from Kowloon and 10% are from Hong Kong island. Under the effect of golden week, 5% are businessmen from mainland China. Century Gateway has sold 700 flats accumulatively and cash in HKD 5 billion.
Since the sale is good, and the golden week has not passed, housing estate developers are offering extra flats for sale. Century Gateway has released an extra 19 flats 9pm yesterday, all of them are B flats in tower 3 from 8th to 41th floor. Area is 635 square feet and the average price is HKD 9,436 per square feet. Lui Ting reveals that the price has been raised by 5% and will be raising more after the golden week. The percentage will be around 2-3%. Assistant general manager of Sun Hung Kai Properties Hu ZiYun adds Century Gateway has 400 flats not yet released, which mostly involves 2-room flats with 500 square feet.
Tin SiuYun: Room for price raising
Apart from Century Gateway, phase 2 of Providence Bay is also following the golden week effect. General manager of Sino Land Tin SiuYun reveals that 30 flats were sold in 4 days and 4-5 flats are sold to buyers from mainland China. The average price of the sold out flats is ranging from HKD 8,310 to 9,065 per square feet. 70% are 3-room flats, 15% are 4-room flats and 15% are 1-room flats. On the other hand, all 1-room flats are sold out and 4-room flats ranging from 1,700 to 2,000 square feet are nearly sold out. Mr. Tin also points out that 100 flats were sold in September and cash in HKD 1.28 billion. Since the sale went good, there were room for price raise.
Zhao Wei invests HKD 200 billion buying flats and commercial buildings
Golden week has attracted famous mainland Chinese to buy flats. Information indicated that famous star in mainland China Zhao Wei has invested HKD 200 million to buy a complex B flat in Kadoorie located in Prince Road West, and bought the whole flooe in ONE MIDTOWN located in Tsuen Wan.
On the other hand, Marinella developed by Trust Properties cooperated with Sino Land and Nam Fung Properties has sold a top floor complex flat to a businessman in China. This buyer is aiming at long-term investment. The transacted flats are located on 33th and 35th floor B flats, with an area of 2,808 square feet and 476 square feet balcony. The price is HKD 98.28 million and the average price is as high as HKD 35,000 per square feet.
Chan YukSheng, director in operation and marketing planning department in Trust Properties reveals that the next batch of flats released will be adding 5%. The current plan will include the release of A flat in tower 9 with 2,930 square feet, the expected average price will be set from HKD 36,000 to 37,000 per square feet. The expected selling price is HKD 110.5 million. Another flat with 3,200 square feet will be setting an average price of HKD 50,000 per square feet and a total price of HKD 160 million. This will be expected to break the highest record.
