（By Liang Yueqin）
The bidding of residential land in Pak Shek Kok Tai Po failed. Buyers in the district still wait and see. The source affects some owners to consider enlarging the negotiation space by about 4%-8%. After the fail, the nearby project Providence Bay had case in price cut of HKD 2 million (down range of 8.7%).
The unit was put on sale before the expiring of SSD (Special Stamp Duty).
. Middle floor room B of building 1 in Providence Bay, in usable area of 1,748 sq ft was bought by the owner at HKD 18.442 million in September 2012, which is still in term of SSD, and it was asked for HKD 23 million, but price was down to HKD 21 million after the fail of Pak Shek Kok land, with down range in about 8.7%, so it is predicted there will be more owners decrease offer facing price cut pressure, expressed by Yu Zhiwei from Centaline Property.
The negotiation space of selling and renting both up by 4%-8% in the district, being affected by the fail, high floor room A in building 21 of Providence Bay 1 among, of which the usable area is 1,247 sq ft, in layout of four rooms two suites and viewing sea, was asked for renting price of HKD 39,000, but the price was cut to HKD 35,000 after the biding failed, in down range of 10.2%, Zhao Ailian from Centaline Property pointed.
Besides, Zhao expressed, high floor room A in building 10 of Pacific Palisades in Tai Po, of which the cover area is 928 sq ft and the usable area is 728 sq ft, in layout of three rooms suite, was asked for HKD 6.8 million before, but it was cut to HKD 6.2 million after bidding failed, in down range of 8.8%.
Unit in Pacific Palisades was cut by 8.8%.
Middle floor room D in building 3 of Royal Ascot in Fo Tan, of which the usable area is 676 sq ft and in layout of three rooms, was asked by HKD 7 million, but the original owner cut HKD 0.15 million after negotiation and sold it at HKD 6.85 million, with usable area sq ft price at HKD 10,133 and in down range of 2.1%, Yu Zhiwei said. It is known that, the buyer is house changing customer, and the seller bought this unit in July 2010 at HKD 4.968 million.
Liu Lifa from Centaline Property expressed, low floor room B in building 5 of Lake Silver in Ma On Shan, of which the usable area is 690 sq ft, was asked by HKD 7 million, but the seller cut HKD 0.27 million or 3.8% to HKD 6.73 and sold it seeing the property price is in down trend and developers supplying many privileges to attract customers, with usable area sq ft price at HKD 9,754. The original owner bought the above house at HKD 4.16 million in June 2009 and the unit appreciated by 61.8% after being held for about 5 years.
