(By Liang Yueqin, Li Zitian)
The sign of resolving the Sino-US trade war and the introduction of Guangdong-Hong Kong-Macao Greater Bay Area Program Planning benefit Hong Kong stocks. Tiny house project AVA 228 in Cheung Sha Wan developed by senior investor Mr. Wah Lo took advantage to additional launched 32 units with mark up yesterday, including 2 platform units that were firstly launched, and the discounted average sq ft price of standard houses is HKD 19,961, an increase of about 1%, besides it will put on sale the first round of 82 units at this Friday night. Mainland people are still interested to buy houses in Hong Kong, and it is estimated that Hong Kong property price fluctuation will be 5% to 10% this year, the Marketing Department Director of mainland land agent Poly Property (Hong Kong), Gao Yuhua expressed.
Tiny house project AVA 228 in Cheung Sha Wan developed by senior investor Mr. Wah Lo took advantage to additional launched 32 units with mark up yesterday, including 2 platform units that were firstly launched, and the discounted average sq ft price of standard houses is HKD 19,961, an increase of about 1%. These units are 134- 249 sq ft in HKD 2.925 million to HKD 5.789 million, with an average sq ft price of HKD 22,683, and the discounted lowest price for open style unit in 134 sq ft joining with platform of 18 sq ft is HKD 2.598 million after deducting discount in 12% of the highest.
The sq ft price of the top floor compound apartment may break the highest record.
On the other hand, Kai Tak Vibe Centro has sold more than 740 units since the sales started in March 2017, taking in about HKD 8.8 billion, with the average usable area sq ft price in about HKD 23,000, while the mainland customers are less than 5%, and there are about 186 units in estimated market value of about HKD 3.2 billion available, which will be put on sale orderly this year, besides this project predicted to be handed over in the end of March to April this year, the 4 top floor compound apartments among in usable areas from 1,600 sq ft to 2,000 sq ft believed to be put on sale by bidding with the sq ft price may possible challenge the latest peak in Kai-tak residential property market due to the good view, Gao Yuhua pointed. The highest sq ft price of Kai Tak Victoria Skye feature unit is as high as HKD 53,000, which is the record of the highest residential sq ft price in Kai Tak District, according to the data.
The promotion of Tuen Mun Ga Fei Wan luxury project is estimated to proceed in the last quarter by soft sell.
The soft sell promotion of Tuen Mun GA FEI WAN luxury residential project will proceed in the fourth quarter of this year at the soonest. It will provide 22 villas in an average area of about 4,000 to 5,000 sq ft in the form of ready building by plan, and the key date will be the third quarter of this year. As for Yau Tong Ko Chiu Road land won by Poly Property (Hong Kong) at HKD 3.3 billion in last August, it is still in the early stage of planning, and it is expected to be put on sale 2021 at the soonest.
We are cautious and optimistic on Hong Kong property market prospects this year because the external factors such as the Sino-US trade war are still unclear, and supply is still less than demand since the rigid market demand is huge with most among is from users, so it is estimated that the fluctuation of property prices in Hong Kong will range from 5% to 10% this year, she pointed.
Regarding if the introduction of Guangdong-Hong Kong-Macao Greater Bay Area Program Planning may suppress New Territories property price, she believed that Hong Kong is a safe city and mainland people still like to buy Hong Kong houses, so it is believe that there is still a certain demand for Hong Kong residential properties.
Yuen Long Manor Parc will be put on sale by bidding at the soonest.
On the other hand, Manor Parc in Tong Yan San Tsuen, Yuen Long will launch houses again by bidding after the Lunar New Year at the fastest, which had sold 1 unit in sq ft price of about HKD 18,860 in the end of last December by bidding; Tai Wai The Garrison in same series will be occupied this year. This project has sold 95% of the units after the sales started one month before, and there are still 5 feature units available which will be put on sale by bidding, the Business and Marketing Director of Far East Development (Hong Kong), Chen Fuqiang expressed yesterday.
Liantang Boundary Control Point is completed soon, which benefits MARIN POINT.
Sha Tau Kok MARIN POINT in same series occupied this year has sold nearly 25%, with about 190 units remained which will be put on sale in ready apartment, and it is estimated the potential investment and self occupation capacity will increase because the nearby Longshan Tunnel and the Changshan Tunnel will be opened soon also the Liantang Boundary Control Point will be opened, so it is expected the property price will rise, Chen Fuqiang expressed. In terms of new projects, Sha Tin Heights project in Tai Po Highway involves 62 floor units, mainly in 2 and 3 bedroom units, which may be put on sale in the fourth quarter, Chen Fuqiang disclosed.
It is estimated the property price will rise 5%-10% in the whole year, since the purchasing power had accumulated in a certain period in early, plus current Hong Kong interest rate is stable, also the possibility of interest rate hike is small according to external factors, the Director of Development of Far East Development Real Estate, Fang Wenchang expressed. He also suggested that the government should consider relaxing the strict measures and enlarging the mortgage ratio in the budget next week.
Top Dollars Development:The luxury residential property market is stable and in up trend.
Triazza Blocks 1 and 3 in Tai Po Road, Cheung Sha Wan, providing 4 and 3 units respectively inclined to be sold to Grand Family with the whole building referring the price around the Kowloon Tong area, and the sq ft price recently in nearby is up to HKD 75,000, the General Manager of the project of Top Dollars Development, Zhu Weixiong said.
The second building of the project is tentatively used for rent and will be open to visitors within this month. A limited edition sports car will also be on display at the same venue. He is also optimistic about the luxury property market. About first hand property trading. Ka Wah International's K.CITY in Kai Tak sold the room G on the 23rd floor of the block 1 through tendering at HKD 10.418 million, which is in usable area of 372 sq ft and in layout of one room with the sq ft price in HKD 28,005, and both sale price and the sq ft price broke the latest tops among one room units of the project.
