Hu Luoyong, the Branch Manager of Centaline's luxury project STATELYHOME in Midlevels West, expressed room B in low floor of building 2 of Robinson Place in Midlevels West is in usable area of 1,115 sq ft, use layout of 3 suites with worker's room, and view building. The original owner asked for HKD 18 million in beginning of last September, but recently cut HKD 0.5 million and sold, with usable area sq ft price of HKD 15,695, slightly lower 5% than market price. This unit was bought at HKD 9.6 million in 1999, bringing book profit of HKD 7.9 million or 82% from this resale.
Unit in Park Towers sold by discount of 12.7%.
Huang Wenlong, the Executive Director of Century 21 Sunrise Property, expressed room G in low floor of building 1 of Park Towers in North Point is in usable area of 980 sq ft, in layout of 3 rooms 1 suite, points to southwest, and faces open view. The original owner offered price in HKD 18.5 million, but cut HKD 2.35 million or 12.7% in the end, and the usable area sq ft price was HKD 16,480. lower 5% than market price. The original owner bought this unit by HKD 10.36 million in May 2008, after holding 5 years, they sold it and gained book profit of HKD 5.79 million, with property appreciation at 55%.
Unit in Celestial Heights lost nearly HKD 3 million.
Liang Jialin, the Midland branch sale manager of Kowloon luxury project Parc Palais, expressed one 3 suites unit with worker's room in high floor of No.23 of Celestial Heights 2 faces southeast, in usable area about 1,137 sq ft, and has sea view. The original owner asked for HKD 20 million in last November, but cut to about HKD 18.5 million last month fearing the future market is weak; Until recently, a customer bought it by finally about HKD 17.5 million, with usable area average sq ft price of HKD 15,391. The original owner bought this unit by about HKD 20.326 million in October 2009, losing about HKD 2.826 million in book.
Miami Beach Towers in Tuen Mun also registered case with price cut. Gu Wenbin, the Assist Sale Manager of Many Wells, expressed room E in middle floor of building 2 of Miami Beach Towers, in usable area of 469 sq ft and layout of 2 rooms 1 hall, sold to a first housing customer in same district. This buyer immediately bought this house because it has sea view both in dinning room and master room, plus with the original owner cut price up to HKD 0.31 million, and also the good environment. The buyer bought it at HKD 3.19 million for self use, which is market price if calculate the usable area sq ft price at HKD 6,802.
Amoy Gardens also has transaction in price cut. Haung Zhijie, the Telford Garden Branch (B group) Manager of Ricacorp Properties, expressed 3 rooms unit in high floor of building I of this project is in usable area about 378 sq ft, in layout of 2 rooms, and face to sea. It sold at HKD 3.85 million after being cut by HKD 0.15 million, with usable area sq ft price at HKD 10,185. The original owner bought the above house at HKD 2.83 million in January 2012 and earned profit of HKD 1.02 million in appreciation of 36%.
Sq ft price of projects in New Territories is in down trend.
In fact, second hand property price is in down trend, and Centa-City Index which reflects second hand property price hit to the floor of one year. New Territories which has most first hand projects has the most obviously falling. According to Centa-City Index, the top three projects among ten projects having the highest usable area sq ft price falling range in the past one month are all in New Territories. There into, Park Island in Ma Wan Island had down range nearly in 10% with latest usable area sq ft price at HKD 8,276, Kingswood Villas in Tin Shui Wai fell up to 7.6% with latest usable area sq ft price at HKD 5,651, and Serenity Park in Tai Po dropped by 7.41% with latest usable area sq ft price at HKD 8,667.
