(reporter Liang Yue-qin) Developers try best to grab customers before the announcement of command paper. Under effect of BSD, Sun Hung Kai launched price list of the first 50 units which are 4 rooms layout and 1,200 sq ft in The Wings 2, Tseung Kwan at market price the day before yesterday. On the contrary, High Place in Kowloon City which is 2 years pre-sale project and major are small units opened at price that 30% higher than new projects’ price in same district. Henderson suddenly announced to put on sale the first 30 units in middle floor of High Place at average cover area sq ft price HKD 13,993 at noon yesterday. The admission is HKD 4.074 million. Later they additional launched 8 units in low floor at original price. The average sq ft price is HKD 13,329 and house selection will be on next Tuesday at the soonest. Market news said 17 units among have been reserved and all by Hong Kong investors. As for The Wings 2, there were at least 200 cases of registers in record. It is estimated that half of them are house changing customers in Tseung Kwan.
Industry pointed out, since there is no small unit between 200 sq ft and 400 sq ft supplied in Kowloon City District and the school net there is good, plus with the project only has 76 units, so Henderson asked for aggressive opening price. Source told, up to 17 units in High Place are reserved. 7 units of room C in 286 sq ft which among first batch are all reserved. The second popular unit is room A in 324 sq ft. On the contrary, The Wings 2 has 784 units of which nearly half are units more than one thousand sq ft and more than HKD 10 million. Second, the project is a little far from MTR station. Plus with new projects in same district will be launched in near future. So Sun Hung Kai has to put on sale the units at market price.
The first being launched are 38 units of which the largest usable area is 282 sq ft.
The first batch of 30 units in High Place, No.33, Carpenter Road, Kowloon City are located in 10th-19th floors. The cover areas are from 286 sq ft to 433 sq ft and the usable areas are between 182 sq ft and 282 sq ft. The prices are from HKD 4.074 million to HKD 6.282 million at cover area sq ft prices between HKD 13,281 and HKD 15,112. The average sq ft price under construction period is HKD 13,993 and the average cash payment sq ft price is HKD 12,873. 8 units additional launched later are located in 5th and 6th floor. The cover areas of them are between 286 sq ft and 427 sq ft and the average sq ft price is HKD 13,329. The sale prices are from HKD 3.948 million to HKD 5.802 million.
Source told 17 units reserved by investors.
Yao Wei-nan, the senior business director of Kowloon District of Hong Kong Property Services expressed, since there is no small unit between 286 sq ft and 400 sq ft supplied in same district, so it is hard to compare the sale price. Currently, the sq ft prices of new projects in same district are between HKD 10,000 and HKD 15,000. If compare with the price of The Prince Place in Prince Edward Road West which was put on sale as ready flat by Emperor Group last year and base on the cash payment sq ft price of its smallest unit which in 602 sq ft is nearly HKD 11,000, the sale price of this project is higher about 30% than new projects’ price in same district. Kowloon City District has famous school net and many new projects earlier were sold out in short time such as The Prince Place in Prince Edward Road West developed by Emperor Group and Jie Wei’s The Opulence etc.. Plus with the amount for one unit in High Place is small. So it is believed that many users and investors will be attracted. Industry believed, since the project only has 76 units, so developer opening it at high price will also benefit the selling of their nest project which is High Point in Cheung Sha Wan.
The Wings 2 received 200 cases of registers and half among are house changing customers.
As for The Wing 2 in Tseung Kwan, they also opened the handover standard sample unit of which the cover area is 1,200 sq ft in International Finance Centre to public yesterday. More than thousand of citizens were attracted. Market estimated, this project had received at least 200 cases of registers and half among were from house changing customers in same district. Zhang Guo-feng, the business director in Tseung Kwan of Hong Kong Property Service expressed, the second hand property trading of above 3 rooms units was frozen immediately after The Wings 2 announced the price list of first50 units. There were only 3-4 cases of second hand property trading yesterday which sharply fell about 50% by week. And they were all trading of 2 rooms units. Many buyers who planned to buy units above 3 rooms before went to visit the sample unit of The Wings 2 and checked their payment capacity. He pointed out, the average sq ft price of The Wings 2 is lower about 15% than the second hand property’s price after deducting the spending of parking place, Sun Hung Kai club member and property discount for in advanced repayment. So many house changing customers would like to buy.
As for other new projects, source told, The Reach in Yuen Long developed by Henderson and New World sold 9 units yesterday. The buyers are all Hong Kong people. Providence Peak in Tai Po developed by Sino sold one 3 rooms unit in low floor, building 15. The cover area of it is about 1,430 sq ft and the sale price was HKD 11.476 million at sq ft price about HKD 8,025. The buyer is house changing customer in Kowloon district. Room E, 23rd floor, HUI ZUAN XI, The Cullinan in Kowloon Station was reserved at HKD 24,547,400. The cover area is 883 sq ft and the sq ft price was HKD 27,800.
