Price of TKO new property increase 60% within 5 month

news (reporter Zhang Meiting) The price of property continued to increase, and the effect of land's King. The price of New property start to increase. The average price per square feet of TKO ALTO RESIDENCES more than $20,000, which is most expensive in TKO. It is much more 57% than October last year. Cheung Kong said, Ma Tau Kok The Zumurud, Hung Hom Stars By The Harbour and Yuen Long La Mansion will increase price from 16 March, the range about 3-5%.

The price of New property start to increase. TKO ALTO RESIDENCES which developed by Lai Sun Development and the chairman of Empire Group Walter Kwok, promote 61 units. The average price per square feet is $20,797, which is most expensive in TKO.Compared with the first price list, the average price per square feet $13,237, more than 57%. New batch of property yesterday end to receive tickets, 40 units will sell on next Saturday. Lai Sun Development Senior Vice President Pan Ruimin said, the price of the project is reasonable.

The price of 2-bedroom from 9.51 million.

According to the price list, deducting the discount, the cheapest unit of ALTO RESIDENCES is Room F,7/F, Tower 8, area is 405 square feet, the nett price is$6.09 million, the price per square feet is $15,041. The price of cheapest unit from $4.37 million while October last year, the unit is 2/F, Tower6, the area is 402 square feet. The cheapest price of 2-bedroom is Room G,7/F, Tower 8, area is 604 square feet, nett price is 9.51 million, price per square feet is $15,759. The most expensive is the special units, nett price is $28.50 million. The nett price per square feet from $15,000 to $26,000.

According to the information,there is 12 new property in TKO. Some of the property is on sale, first batch of nett price per square feet is $12,000. For example The first batch of nett price per square feet of Sun Hung Kai The Wings IIIA is $11,800 while Wheelock CAPRI is $11,900. Compared with the new property in same district, ALTO RESIDENCES increase 70%. However, we should concern about the promotion date of the project, The Wings IIIA is August 2014 and CAPRI is November 2015.

Pan Ruimin said, half of the new batch units can enjoy sea view. more than 30% is special units. In addition, the change of the property market in the past month, he think that it cannot be compared with the property which promoted before. He said, the units actual increase 15%.

Lai Sun:the price of units will follow the market

Asked the increase range is too high or not, Executive Director and Chief Executive Officer of Lai Sun Development Liu Shuren said, the price with The Wings and CAPRI is similar. They are not break the most expensive record. The price of Kai Tak new property will increase within the short period, which also follow the market. He said, recently a China-based developer buy the land with high price. It cause the bid price increase 40-50% which will affect the developer to decide the price of new property.

Project Director YAT of Empire Group said, China-based developer buy the land with high price is good competition. The group will continue to study how to buy the land. " no people wants a loss of business". Land bidding is long-term development. He also asked the reporter" If you are landlord, what can you do if you sold out the property but cannot buy back"

senior vice president of Lai Fung Holdings Lin Hao Yi said, from October last year, ALTO RESIDENCES promote 463 units and 455 was sold out, which including $3.7 billion.

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