Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum)The price of small units keep on rising,HOS also recorded insane price.HOS Hoi Fu Court in Tai Kwok Tsui which recorded a new high sq.ft price just last month,a open unit with only 213 square feet with the transaction price approaching HKD $15,000 per sq.ft, in just one and a half month,to push a new high sq.ft price record of nearly 7 percent, once again become the king of the HOS in Hong Kong,comparable to the price of private housing estates in the region. Analysis of the industry refers to as a result of a private estate owners refused to sell the property,so that the target of the neighboring HOS,indirectly pushing up the property prices.
Home Fantasy Lau Chun Kit visit to our reporter's interview yesterday, said the unit is located in Room 10,Middle Floor,near Olympic Station HOS Hoi Fu Court Hai Ning estate,with 213 sq ft of salable area, landscaped to the southeast, the night before the free market price of HKD $3.095 million traded,the price per square foot up to HKD $14,531,compared with last year, 12 months estates produce is HKD$13,585 the previous record high of nearly 7 percent again, the most expensive flats feet for the entire unit price is also the first break of the estate of such units HKD $3.0 million). Buyers was 80 youth, now living in Hong Kong Kwai Chung, had earlier go around and visited the housing estate last night decided to buy the unit with the price of HKD $3.095 million.The name of the original owners to HKD $1.92 million to buy with the company name in September 2012,property prices rose by 61% in just two years and four months.
80's bought the units,the owners hold stock for 2 years with 61% appreciation
Statistics show that,the new high sq.ft price of HOS in Hong Kong was Hoi Fu Court,an open unit with 212-foot last month transacted with the price of HKD $2.88 million (Free market price) and changed hands,with the sq.ft price of HKD $13,585 record,in just one and a half month have been pushed up close to 7%,also exceed the price per sq.ft of HOS Kornhill Gardens in Hong Kong Island.
Central data show that private residential projects in Tai Kok Tsui Hampton Place and The Long Beach,the current average price of about HKD $14,047 and HKD $14,639 per sq ft,while the Island Harbourview and Park Summit withe the average price was more than HKD $15,000 per sq.feet,have comparable price with the open unit of HOS Hoi Fu Court price per square foot.
Midland Realty Chan Yun Hang said that the quality of Hoi Fu Court, and the quality of private housing in the region has always been different, but still this high turnover,it is believed that the private building owners refused to reduce the price put on sale in the region, so that buyers turn to buy HOS.She said that the current Olympic Station area with about 30 private housing estates keep monthly turnover,with the average transaction price per square foot by more than HKD $14,000 with sea-view units with more than HKD $20,000 per sq.ft.
Units which involved in small amount of price rose continuously,buyers still grabbed for the second-hand HOS
In fact, private property which involved in small amount of prices continue to rise in recent years, HOS has become the focus of buyers.Centaline, Senior Associate Director Wong Leung Shing pointed out that last year, the HOS second-hand property market transaction temporarily recorded 2,379 cases, worth HKD $7.176 ten billion,increased significantly by 35.6% yoy and 44.8% respectively, which were a few more record 2,545 cases in 2007 after 7-year high, the amount in 1998 also hit a record high since 17 years, reflecting a significant increase in public demand for housing.Coupled with white table buyers entered the market, accelerate the pace of stimulation with home purchasers, led the HOS Secondary Market Transaction buoyant. Prices continued upward, pushing the HOS Secondary Market record amount for two consecutive years.
The highest turnover of HOS Secondary Market Case Shau Kei Wan Tung Tao Court upper floor units in September,recorded HKD $5.78 million,recorded the second highest record,just after Shau Kei Wan Tung Tao Court with the price of HKD $6. 0 million in December 2012. Last January the second highest case is a a unit located in upper floor of Tung Yuk Court in Shau Kei Wan, recorded HKD $ 5.7 million,the third highest record was a lower floor unit located in Charming Gardenin Tai Kok Tsui, recorded HKD $5.65 million.
