Open-units sell ith an admission fee of HKD $1.65 million,as for units with large-scale sell with the sq.ft price of HKD $7,000
Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum)The prices highs,properties with small amount of prices were welcomed by buyers.1,071 units of Mont Vert Phase 1 in Tai Po which developed by Cheung Kong Group have opened the price list under strong wind signal No.3 yesterday,put up the first batch of 260 units on sale with 30% off of the property prices when compared to the sq.ft prices of the new properties in the same area,also recorded 20% lower than the second-hand property prices in the region,with an average price of HKD $9,732 per sq.ft,account four total discount of 15%,discounted price of HKD $8,272 per square foot. Among 194 feet of open-ended unit with the discounted admission fee of HKD $1.654 million,as for the units with large-scale and three-bedrooms interval sell with the discounted sq.ft price of HKD $7,000 or below.Real estate agents in the region believe that the property sell in a cheap prices,the purchasing power of the region is bound to exhaust the short term,as for the second-hand property owners who are intend to put their unit on sale,it is tantamount to 'strong wind signal No.3'.
The first batch units of Mont Vert Phase 1 sell with the price 30% below the new properties in the same area,Cheung Kong executive director Justin Chiu yesterday described the prices was 'good prices with good quality',the project is mainly agricultural land in exchange for lower land prices,the construction costs in the early years contracting out, the price is lower than the present in order to be sold cheap.Future construction costs due to high new property to the nearest land in the same district has to HKD $ ,000 a foot, and even construction costs HKD $4,400 a foot,the price may not be so low.
The land prices and construction costs were low,so Cheung Kong Group earned about 14%
He expected that the group can force a little community of Hong Kong,sell with an acceptable price for the public to buy their first property,improving the lives,the developers offer prices up to 30% second mortgage,the buyer can be used for flat down payment as low as 20%,reduce home costs.
Statistics show that Mont Vert premium of HKD $2,800 per square foot for the building area together with the early years of the construction cost of about HKD $3,000 per square foot,the per square foot construction cost of approximately HKD $ 5,800,in real dollars per square foot of about HKD $7,400 feet,while the current average first fold the real price of HKD $8,272 per sq.feet, in other words,the developers still have about 14% of the profits.
Justin Chiu admitted that the market has been a long time without "6" prefix PPSF new properties,this time launching out '1 +family' portfolio, which is the mini-units and large units for sale pairing priority is to meet today's new generation of parents or foreign parents living needs.
Mont Vert Phase I with a total of 1,071 units,first launched out 260 units on sale, including 173 units with 3 bedrooms interval,2 bedrooms accounted for 20 units and 43 open units,the property opened the demonstration units and started to receive the votes today,each of two-person households can enter 6 votes,each vote can be bought up to 4 units,5:00pm next Friday will be stopped receiving votes and it will be on sale next Saturday.If buyers who have bought units with 3-bedrooms interval located in Flat B and G of Tower 6 can buy rhe open unuits located in Flat A and H nearby with priority and the lowest discounted sq.ft price of .3 Bedrooms units priced from HKD $6,909.
Mini units reached 4.8% return on investment
For the market to worry about its open-ended unit will cause speculation,Justin Chiu believes that Hong Kong is a free market,do not get worried, sale for personal use or investment buyer is unable to stop,but it is believed that in the current 3D heavy taxes,the short-term speculation is not again,rental definitely have its price gauge,the rate of return should be good. Area real estate agents said that the present Jade Plaza 1 bedroom units salable area 264 feet, at a monthly rent of about HKD $8,500 to HKD $9,500,HKD $34 per sq.ft lease,as calculate with the open-units of Mont Vert which first offered for sale with 194 sq.ft,the rate of return of about 4.3% to 4.8%.
UBS AG expects the property prices will fall 15% this year
In the second half of the property market,Justin Chiu pointed out earlier this year,he estimated that property prices on the plus or minus 10% off, earlier this year dropped a few percentage points and the recent rise, coupled with the continued inflow of hot money in Hong Kong, said the U.S. Federal Reserve Chairman Yellen continued low interest rate environment period of time, sustained low interest rate environment in Hong Kong, developers and buyers have to adapt to 3D spicy taxes,the public market sentiment improved significantly stronger in the second half of the property market,so it is believed that it will go up,a 10% increase in property prices.
However,UBS Strategy Analyst Leung Yu Chung felt unoptimistic about the Hong Kong property market,thinking that the U.S. interest rate hike soon,mean the end of six years in Hong Kong is very loose monetary policy's property market "decade bull market" is also facing the end.The bank estimated that the prices will fall 10-15 percent,if U.S. interest rates rose to 1.25 per cent next year, property prices in the next year will be fell another 10-15%.
Asked about the current property is too small,he believes,because Hong Kong property prices more expensive,especially in construction costs more expensive, small unit is suitable for Hong Kong affordability,understand that the Government has been off the force to find land to build housing,but there are different groups oppose,so that the Government was difficult to provide lands
