Kong Wen Wei Po News (By Zeng Minyi )
The early number 2 price list of single building new project Regent Hill in Happy Valley developed by Circle Property Development and so on was criticized against the Residential Properties (First-hand Sales) Ordinance (hereinafter referred to as the Ordinance) by Sales of First-hand Residential Properties Authority (SRPA) (hereinafter referred to as the Authority) . Yesterday, Kuang Dequan, the General Manager of the group responded, law also base on favors, and they would correct and cooperate with the Authority if there are some mistakes. He said, the Authority did not contact him about this event, and he emphasized they will additional launch at least 30 units according to the Ordinance next week. The Authority observed the site yesterday, and he said they were satisfied with the sale arrangement. This project put on sale the first batch of 44 units yesterday, 33 of which sold.
33 units sold on one single day; Price of additional launched units may rise.
30 units among these 44 showed on price list 1, and the other 14 units showed on price list 2, which are criticized against the Ordinance and took 236 registrations, while 33 units in total were sold. Although there were some gave up, but also there were customers bought two units once , helping developer took in nearly HKD 400 million. The Authority and Estate Agents Authority observed on the site, and after the former expressed on mail that they would follow in if there any violation found; While the latter left after staying for about 25 minutes without any comment.
The project will additional launch at least 30 units next Tuesday at the soonest, and emphasized they will meet the Ordinance, Kuang Dequan expressed. There may be mark up since the additional launched units are in higher floor and in different orientation. He also disclosed, they are discussing with high end retailers about renting out the street shops, and they plan to get through two shops totally in 3,000 sq ft for flagship store.
Rate of renting return is high in Happy Valley, with average sq ft renting price of second hand house at about HKD 80, thus about 70% potential buyers of the company are investors, and by prediction the average sq ft renting price of this project will up to be HKD 90, then monthly rent will be HKD 30,000 base on unit area in 300 sq ft, the Residential Department Chief Executive Officer of Midland Bu Shaoming expressed. Potential buyer attendance of the group is 70%, more than 90% of which are from Hong Kong Island, while potential buyers from Kowloon and New Territories only take about 5%.
There has been no project including unit lower than HKD 10 million for 5 or 6 years, so potential buyers of the company in about 60%-70% favor of one room and two rooms units, the Asian Pacific Region Residential Department President of Centaline Property Chen Yongjie said. He also pointed, potential buyer attendance of the group is up to 70%.
66 transactions made in first hand property market in the past two days.
66 first hand properties sold in the past two days. First hand projects in this month are in small scale and have less houses, so it is estimated first hand property transactions in this month will only be about 1,000 , while second hand property market is warming up with transactions hopefully up to 3,600, Bu Shaoming pointed. Chen Yongjie also predicted first hand property transactions in this month may fall 40% by month to 1,500.
In addition, market source disclosed, New World's The Woodsville in Yuen Long sold villa B15 yesterday, which in usable area of 2,439 sq ft and at price of HKD 24.556 million with sq ft price at HKD 10,068, and this project rapidly had sold 4 villas in the past three weeks, taking in nearly HKD 100 million.
