Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum) 1st of May which is a golden week season have been started,some major developers have no major new property sales launched out,mainly selling the units of single buildings or some unsold units,as affected by the 3D heavy taxes,coupled with the recent devaluation of RMB.which cause the sentiment of buying Hong Kong properties by mainland buyers have greatly reduced,the major developers and real estate agents have not previously set as mainland visitors to Hong Kong for sale flat inspection group.Industry estimates,the first-hand property sales during the golden week starting from 1st of May this year will be quite quiet.
Looking at the major developers such as Cheung Kong,Sun Hung Kai Properties are failed to take advantage of the coming Golden Week launching the new property sales actively,even the new property project City-Point in Tsuen Wan which is developed by Nan Fung Group in cooperation with Cheung Kong haven't used this opportunity to open the demonstration units in order to attract buyers.
Centaline haven't formed any site visit group for mainland buyers
Centaline Asia-Pacific president of Residential Department Chan wing Kit pointed out that the Golden Week in 1st of May this year,the major developers have failed to deliver any discounts for the mainland \buyers,only for Hong Kong buyers and to sell some unsold units as based,coupled with some mainland buyers were affected by BSD and DSD taxes and needed to pay about 23 % of taxes,has resulted in the number of mainland buyers who come to Hong Kong buy the properties fell 95% before the implementation of tax ,coupled with the recent devaluation of RMB,even causing more mainland buyers have less intentions to buy the Hong Kong properties,he felt not optimistic on the first-hand new property sales during this year's Golden Week,the group was also failed to be formed any site visit group for mainland buyers,because the group is still in a dangerous period of the current balance of payments,so did not want to make any unnecessary expenditures.
Another correspondent,Midland Realty chief executive of Residential Department Pu Siu Ming said that the group starting from 1st of May will arrange shuttle bus for home buyers from Mainland and launched out 'sightseeing and shopping experience'discount which worth about HKD $ 23,000 to the first-hand property buyers,places 8 and will be provided professional services in order to meet the buyer demand during the periods.
Harbour-Pinnacle was an unique new property
In fact,among of all the first-hand new properties,the only new real estate was Harbour-Pinnacle in Tsim Sha Tsui which was held by Lee Shau Kee,first launched out 22 units on sale,located in 23/F,25/F and 26/F respectively,with an utility area from 359 feet to 689 feet,priced from HKD $1.3946 ten million to HKD $2.368 ten million,the sq.ft price from HKD $29,484 to HKD $41,721.In order to attract the buyers,compared with the estimated prices by the market recently,increase of 4% discounts,so it cause the discounts with tax preferential discounts of up to 14.75%.
DIVA in North Point by Cheung Kong has just announced a new price list and extend the discounts on April 27,starting from today,eight private buyers who have chosen 'Premier second mortgage for installment payment plan' or 'Premier second mortgage for construction payment plan'can be received a 5 % additional discount,buyers with personal name or name of the company can be received discounts just like before .
Swire Properties and Henderson Land have reduced the sales promotions
As for MOUNT PARKER RESIDENCES in Quarry Bay by the Swire Properties yesterday announced a new price list,with cut the discounts starting from May 4,the discounts of 4.25% of the properties which bought by the buyers before May 31 will be reduced to 4%,the first eight buyers who needed to be paid the new stamp duty can be received 4% of discounts or the 47.06% of new stamp tax rebate(whichever is lower),also higher than before the first 12 buyers who needed to be paid by the new buyer stamp duty of 4.25%,or lower than the 50% of the new stamp duty tax (low whichever).
DUNBAR PLACE in Ho Man Tin have also announced a new price list,launching 8 units up for sale on 3re of May,the units with a salable area of 1,208 feet to 1,830 feet,priced from HKD $2.2515 ten million to HKD $4.3818 ten million and provided 4% ad valorem stamp duty rebate for the first six buyers with private capacity and to provide 5.75% cash rebate for the first two buyers who have chosen the 60-days payment with private name.DUNBAR PLACE has sold a total of 43 units so far.
Double Cove in Ma On Shan by Henderson Land yesterday also announced to cut the discounts of Citistore Voucher and a cooker which worth about HKD $10,000 starting from May 4,to retain buyers paid the property prices within 14 days,can get equivalent formal agreement setting 6% fixed amount as the transaction price of residential properties rebate 'ad valorem duty',the amount of benefits and Henderson Club members can be received free of the first 18 months of management fees.
As for the other new properties,The Avenue in Wan Chai sold five units yesterday,Park Metropolitan in Kwun Tong,The Summa,Chatham Gate and Winfield Building have sold one unit respectively.
