AVA 228 firstly launched 50 units in discounted average sq ft price of HKD 19,200.
(By Liang Yueqin)
New projects competition rises in the beginning of the pig year. Tiny house project AVA 228 in Cheung Sha Wan, which has the smallest house of 129 sq ft in downtown announced the first price list of the 50 units yesterday, with the discounted average sq ft price in HKD 19,227, lower about 5% than HKD 20,300 from AVA 61 that was launched in 2017 in same district of same series, and the discounted lowest price of 151 sq ft open style unit is HKD 2.803 million, becoming the lowest first hand property price in urban area over one year. On the other hand, HKR International uploaded the sales brochure of Poggibonsi in Discovery Bay yesterday, which will be launched as soon as next month, the smallest unit among is in 344 sq ft, becoming the smallest unit in Discovery Bay.
AVA 228's first price list did not include the one in 129 sq ft. The first batch 50 units of the project include open style to one-bedroom units from 151 sq ft to 249 sq ft in sale prices from HKD 3.185 million to HKD 5.884 million, with the average sq ft price in HKD 21,848, and the discounted prices are from HKD 2.802 million to HKD 5.178 million after deducting a maximum discount of 12%. The discounted prices of 40% of the units in the price list (20 units) are less than HKD 3 million, and 70% of the units are open- style. At present, the transaction sq ft prices in the second-hand projects of same district such as Trinity Towers and so on are about HKD 14,000 yuan to HKD 23,000.
Developers provide easy payment method, which is the down payment only needs 10% of the sale price, with another 8.5% of the property price will be paid within 34 months by 0.5% in every two months, while the rest 81.5% will be paid when hand over. Developers offer cash rebates for early repayment, ranging from 3% to 11%.
20 units are less than HKD 3 million.
The recent trading usable area sq ft price in AVA 61 was about HKD 23,000, although the company believes that property prices will develop steadily in the future, but many projects in the market were put on sale at low prices, so they also following the trend of low prices, and the sample flats will be opened to public since today, then the application will start since tomorrow, as for sales will start within 8-10 days, the Project Manager of Yuman of investor also developer Wah Lo family, Cai Renhui expressed.
There were not many second-hand transactions in the same district, and they had referred to the newly second-hand price in the district, the Chief Executive Officer of Residential Department of Exclusive Agency Midland, Bu Shaoming pointed. For the same tiny unit project, Upper East in Hung Hom appeared second hand transaction with lost. He believed that the market still has demand for tiny units. On one hand, it is still difficult for common citizens to buy large unit, so developers build smaller units to provide more affordable housing choices . On the other hand, the demand from users is still strong, and in addition to buying for occupy, the market also has rental demand.
"Different Houses For Different People In Need” Target the young people.
For the area is said to be too small for people to live, Cai Renhui believed that the project featured in tiny house according to advanced market survey, and there are still demands such as young people who want to move out from the family, so it is believed different houses for different people in need. The project is located in the urban area, so they have confidence on sales.
