Park Ivy launched 50 units at price which lower 15% than second hand property price.

Under the situation of government continuously launched measures and banking increased mortgage, developers are careful on offering price of new projects in order for good selling. Park Ivy in Tai Kok Tsui which aim to young new buyers launched first batch of 50 units at price that lower 10%-15% than second hand property price. The average cover area sq ft price is HKD 11,712 (The usable area sq ft price is HKD 16,055). The average cash payment sq ft price is HKD 11,126 (HKD 15,242 if base on usable area). The admission of open type unit of which the cover area is 351 sq ft is HKD 3.9738 million. The admission of 1 room unit of which the cover area is 440 sq ft is HKD 4.521 million. The Reach in Yuen Long which also aim to young new buyers additional launched 50 units at original price yesterday. The admission of 2 rooms unit of which the cover area is 490 sq ft is HKD 3.27 million. The house selection of these two projects will be on this Saturday at the soonest. It is estimated that the mark up will be 10% at the most. Tiao Zhao-yuan, the Sales Department Associate Director of Sino which is the developer of Park Ivy said, the mark up will be 5%-10%. He described the pricing of the first batch of 50 units is downtown joyful house buying price which close to second hand property price. It already included the consideration of customers requiring property between HKD 4 million and HKD 5 million. The above units include open type units and 1 room units. The usable areas of them from 256 sq ft to 322 sq ft. The prices are between HKD 4.183 million and HKD 5.39 million. Developer supply construction period payment (as pricing) and cash payment installment for deal in 75 days (5% discount). The cash payment sale prices are between HKD 3,973,850 and HKD 5,120,500. There is no secondary mortgage. Mr. Tian pointed, more than 10,000 person-times visited the sample flat since last Wednesday when was it opened. They received inquiries from more than 3,000 groups of buyers. It is predicted that users will take about 90% of all the buyers. It is estimated that HKD 240 million will be took if all the first batch of 50 units sold out. And HKD 600 million will be took if all of the 113 units sold. 　 Cai Ri-ji from Centraline expressed, the prices of Park Ivy’s first batch are close to 85%-90% of the second hand property prices of Park Summit and Lime Stardom. The second hand property price of Park Summit currently is about HKD 13,000 and the second hand property price of Lime Stardom is about HKD 12,000. The Reach additional launched 50 units at original price. Henderson and New World’s The Reach in Yuen Long which mainly are units between HKD 3 million and HKD 4 million that suit to young new buyers additional launched 50 units at original price yesterday. The average cover area sq ft price is HKD 7,721 and the usable area sq ft price is HKD 8,585. They are located in building 1 and building 9. The cover areas are from 490 sq ft to 604 sq ft. The usable areas are from 355 sq ft to 449 sq ft. The prices are between HKD 3.442 million and HKD 4.826 million. 5% discount for cash payment method. Source told the project has been reserved for more than 10 units. 　 As for other new projects, source told Sevilla Crest in Sham Shui Po and One West Kowloon in Lai Chi Kok each sold 2 units yesterday. Parkes Residence in Jordan sold 3 units and GREEN CODE in Fanling sold 1 unit.

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