(By Zhuang Chengmin)
New World (0017)'s private residential project「ARTISAN GARDEN·Stanford Residences 」in Ma Tau Kok launched the first price list involving 80 units earlier, the discounted lowest price among is HKD 4.615 million, and the market response is good, with long queues of people have appeared outside the exhibition hall for days. Source pointed, as of 4 pm yesterday, the project had received more than 1,300 applications, which was more than 15 times oversubscribed. Developer pointed, they additional launched 100 units with mark up of nearly 3% in average as "the public demand”, which will be put on sale in middle or the end of this week at the soonest. The sales arrangement will be announced shortly.
The average price increase is 3%, and the lowest price will be HKD 4.63 million.
There are a total of 100 units in the second price list of the Stanford Residences, involving 84 units in one-room and 16 units in two-bedroom, from usable areas of 283 sq ft to 386 sq ft. Compared with the first price list, the average price increase in the second price list is nearly 3%. The unit prices are from a minimum of HKD 5.578 million to a maximum of HKD 9.703 million, with the sq ft prices from HKD 18,793 to HKD 25,542, and the discounted prices range from HKD 4.629 million to HKD 8.053 million, with the discounted sq ft prices from HKD 15,596 to HKD 21,197. Among them, the two-bedroom unit A1 on 26th floor has the highest selling price of the second price list, which in usable area of 386 sq ft is HKD 9.703 million with the sq ft price at HKD 25,137, and the discounted sale price is HKD 8.053 million with the discounted sq ft price at HKD 20,863, base on the highest discount of 17%.
They are confident in the market and will consider to additional launched with mark up in short term seeing the application of the project was ideal, and it is predicted the sales will start at middle or the end of this week, the sales and marketing director of New World, Huang Haoxian expressed. As seen in the current applications, it is reported that 80% are young users and 20% are investors, and the customer sources came from different districts in Hong Kong Island, Kowloon and New Territories. He also pointed they will start the sales arrangement of Waterloo Road 74 project after the sales of Stanford Residences.
Maya has collected 250 applications, exceeding 1.8 times of the quota.
In addition, Maya in Sze Shan Street, Yau Tong developed by Wang On (1243) and mainland estate agent Cifi Group (0884) firstly launched 66 units at discounted sq ft price of HKD 17,578, source pointed, about 250 applications had been collected, a 1.8 times oversubscribed. Developer planed to upload sales arrangement in couple days due to the sale prices are high base on the large sizes of the units in this project, with the lowest discounted price up to HKD 7.688 million.
The application for the first hand property is hot, and the transactions in second hand property market also rise. On the past Saturday and Sunday (16th and 17th), Midland ten leading housing projects recorded 15 transactions, an increase of 7.1% per week, and had been above ten for five consecutive Saturdays and Sundays. Developers are waiting for an opportunity to speed up new project sales seeing the recent property market in up trend, as both transactions and prices rising in second hand property market, some owners are positive on market trend and aggressive on pricing, leading negotiating space was narrowed, which also caused the shortage in individual housing estates, so it is predicted there will be high-priced transactions in the second hand property market, the chief executive officer of residential department of Midland, Bu Shaoming expressed.
More and more positive factors push up transactions in ten leading housing projects.
Two-bedroom unit B on low floor of No.25 Nassau Street, Mei Foo Sun Chuen phase six, in usable area of about HKD 509 sq ft, was sold at HKD 7.26 million, with the usable area sq ft price at about HKD 14,263, and the original owner earned book profit about HKD 6.022 million in this resale with property appreciation in about 4.9 times, after he bought it at about HKD 1.238 million in May 1991, Midland brokers pointed.
A total of 12 transactions were recorded in Hong Kong Property ten second hand leading housing projects on weekend, even per week, and had been above ten transactions for three consecutive weeks. There are more and more global positive factors recently, including mainland government loosed policy, the ideal Sino-US trade talks, and the Fed’s slowing interest rate hikes, the CEO of Hong Kong Property, Li Zhicheng said. Ricacorp ten leading housing projects recorded 17 transactions on weekend, an increase of 5 cases per week. Centaline ten leading housing projects recorded 16 transactions, down 20% on a weekly basis, but the transaction volume remained at a high level.
