The market passed desolately recently and new regulations for new house will be implemented from next Monday. Swire Properties Limited’s DUNBAR PLACE which located in No.23, Dunbar Rd, Ho Man Tin announced price list yesterday. They firstly launched 30 unit at price which lower about 10% than the market price. The average usable area sq ft price is HKD 20,869. Admission fee for a 3 rooms unit is about HKD 23.06 million. According to the sale arrangement announced by developer, the units will be put on sale by first come first served at 11:00 am next Tuesday at the soonest. It is the first new project which be put on sale under new regulations.
There was report pointed in earlier, the brochure of this project need to be modified because of inconformity with new regulations. Du Wei-ye, the residential property manager of Swire Properties Limited admitted (Hereinafter referred to as the company)yesterday, New Estate Sale Monitoring Authority (Hereinafter referred to as the Authority )had informed and reminded the company making further explication on the project’s brochure. The company had already researched and modified all the related contents. Latest brochure had been uploaded to the company website and submitted to the Authority. Public can ask for the brochure in printed version in sale office which located in phase 3 of City plaza.
Brochure had been modified. Selling will start from next Wednesday at the soonest.
He emphasized, the Authority neither require withdrawing the brochure which is already announced, nor limit the selling to 7 days after the latest brochure was announced. So the company will put on sale the project 3 days after the price list was announced when will be next Wednesday at the soonest. He clarified, the Authority just reminded and suggested modifying the related contents. And the company accepted all of them.
The latest version of brochure was modified yesterday on 15 items comparing with version on 21st this month. Thereinto, the reference date of location plan and survey map which located in page 16th was renewed from 19th March 2013 to 12th April 2013. The warning to buyer which located in page 43rd was renewed from 3 items to 5 items which majorly about buyer hiring the lawyer. In addition, there were also revises on memo format.
Sample flat has no landscape of real scene.
As for the two sample flats, one is without change in handover standard and one is decorated sample flat with changes. They are all according to the new regulations. Statements in entrance of the sample flat are all use usable area. The terraces or windows which will have views should be lighted by white light boxes. There are no real scene in the sample flat.
According to the price list, the first batch of 30 units of DUNBAR PLACE are located in 9th to 19th floor in layout of 3-4 rooms. The usable areas are from 1,208 sq ft to 1,830 sq ft. Unit prices are between HKD 23.06 million and HKD 41.63 million with usable area sq ft price from HKD 19,042 to HKD 22,750. Only construction period payment method supplied. Developer appointed 8 property agents including Centaline, Evantis Group Ltd, Hong Kong Property Services (Agency) Ltd,Jones Lang LaSalle, Midland Realty, SAVILLS, Ricacorp Properties and SHERATON VALUERS LIMITED to sale the units. Sample flats have been opening to public since yesterday.
Du Wei-ye added, they will supply brochure within 24 hours in accordance with the new regulations. According to the new regulations, there is no need to supply management fee amount during the brochure. Spokesman of Swire Properties Limited expressed, the monthly management fee for room A of this project is about HKD 9,000, for room B and room C is about HKD 6,100, for room A in 25th floor is about HKD 13,000, and for room B in 25th floor is about HKD 13,700. Equivalently, each usable area sq ft prices are from about HKD 4.9 to HKD 6.39.
Yao Wei-nan, the Kowloon District sales director of Kong Property Services (Agency) Ltd expressed, the sale price of the first batch of 30 units of DUNBAR PLACE is lower about 10%-20% than the latest usable area sq ft price of new projects in same district such as Kadoorie Hill, ONE MAYFAIR and Eight College. Currently, the latest usable area sq ft price in Kadoorie Hill is about HKD 23,000, in ONE MAYFAIR is about HKD 42,000, and in Eight College is about HKD 36,000. It reflects that the price of unit in this project was adjusted affecting by market situation and new regulations. The inquiries recently are most from users in same district.
The Riverpark sold 4 units yesterday and took more than HKD 8.6 billion cash in.
As for other new projects, market source told, The Riverpark in Sha Tin sold 4 units yesterday at usable area sq ft prices from HKD 13,000 to HKD 14,400. Club Riverpark firstly has been opening since yesterday. The visiting period will be in 2 days. The project has accumulatively sold nearly 900 units until now and took more than HKD 8.6 billion of cash in. In addition, Lions Rise in Wong Tai Sin sold 4 units, Parkes Residence in Jordan sold 2 units, Billionnaire Royale in Kowloon City and Yoo Residence in Causeway Bay separately sold 1 unit.
