New projects tried all the best and sold 100 units on weekend.

The trading of second hand property market get into a lifeless condition. The selling of new project seems good. Although there were 100 cases of trading in new house market on weekend by record and the number increased 66.67% by week, but the actual trading volume still in low level if calculates the additional launched units of the new projects in this weekend and factors of different privileges, more commission to grasp customers and etc. Thereinto, Henderson put on sale the additional 216 units of GREEN CODE at original price yesterday. Since they aim to young new buyers, so the selling was better than many other new projects. But the result was obviously worse than the selling that 100 units sold in first 13 minutes of first day happened before mortgage interest increased. Lin Da-min, the sale department general manager of Henderson pointed, GREEN CODE had sold 314 units in 4 days since last Wednesday until last Saturday. They took HKD 1.385 billion cash in. The average cover area sq ft price was HKD 6,750. The project yesterday launched 216 units in building 5 which additional launched last Thursday. 40 units sold in first 10 minutes. It is estimated that the project has accumulatively sold more than 350 units including the selling result of yesterday. The number is equal to half of the total units of the project. They took HKD 1.5 billion of cash in. Lin Da-min said the market chilled out. Lin Da-min said frankly that, the market especially luxury property market chilled out recently. Many potential buyers wait and see. So the pricing of current new projects should be more careful and can’t be aggressive. As for banking increasing mortgage interest in succession, he believed it just some banks increased the mortgage interest but not all of them. The interest is supposed to rise in short term. There is no sign of changing of prime rate. He continued, buyers of GREEN CODE are mainly users. The ratio of cash payment and construction period payment are separately 85% and 15%. In addition, The Reach in Yuen Long which in same series and developed with New World sold 16 units in two days according to market source. One Victory compensated DSD. The new projects’ competition in Kowloon district gets hotter and hotter. As for Easyknit International Holdings Limited’s One Victory in Ho Man Tin, market source told developer launched secondary mortgage payment and compensated half of the DSD (double Stamp Duty) to buyers. Further more, they increased agent’s commission to 10%. All these actions show developer’s hope of getting out of the dull market. The increasing range of commission is higher than 6% which was the agent commission of Chuang's Parkes Residence in Jordan according by market source. It is known that Parkes Residence sold 3 units yesterday in record under the effort on selling. 　 Besides, FE CONSORT INTL ’s SEVILLA CREST in Sham Shui Po also grasped customers by double commission in earlier and they had 10 cases of trading in past two days by record. Developer expressed there were more than 2,000 groups of buyers visiting the project in past two days. The number of buyers who have intention to buy the house is over the unit number in first price list. Since more and more people inquired the privilege of giving the whole SD in return, so they decided to increase the quota of privilege according to the feedback. Tai Hung Fai Eenterprise’s Kadoorie Lookout in Ho Man Tin which firstly gives shop as gift to house buyer also sold 3 units in two days. Tian Zhao-yuan, the sales department associate director of Sino expressed, their Park Ivy in Tai Kok Tsui which developed with URA will announce price list in middle of this week at the soonest. There will be at least 50 units in first batch including open style units and one room units. Each customer is limited to 2 units.

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