(By Leong Yuet Kam)
Developers are careful on pricing since government keep increasing land supply and prediction of interest rising. Yesterday, Cheung Kong Stars By The Harbour published price list of first batch of 66 units with the highest discount in 16%, and three rooms unit in 808 sq ft is HKD 18.81 million, which will be HKD 15.8 million after discount. First batch discounted average sq ft price is about HKD 23.5 thousand, about 10% lower to market price, and registration will start on this Saturday, Cheung Kong Executive Director Chiu Kwok Hung expressed yesterday. Another side, Sun Hung Kai Ho Man Tin Ultima additional launched 3 units, which are four rooms units in 1,066 sq ft and at prices from HKD 28.7219 million to HKD 32.958 million, prices of 2 units among increased about 2% in average, and the sale will be on Saturday.
Discount of Stars By The Harbour is larger to attract market attention, and there will be adjustment when additional launch by estimation, Chiu Kwok Hung expressed. The first batch 66 units are located in block 1 and 2 including 11 units in four rooms layout and 55 units in three rooms layout, which in usable areas from 808 sq ft to 1,408 sq ft and at sq ft prices from HKD 23,163 and HKD 42,237 with the lowest price at HKD 18.81 million, besides developer provides privileges of cash payment discount and stamp duty return in 16% of the most, leading the lowest price at about HKD 15.8 million after all discount, according to the price list.
The highest discount is 16% targeting to house changing customers.
If this project will be put on sale next week or not, Chiu Kwok Hung said, the group would publish sale arrangement later, also will together publish if there would be house selection priority for buyer who purchases two units side by side on same floor. He said, target customer of this project is Hong Kong house changing customers, and the promotion reaction in mainland earlier also is good.
The first batch price list market value is nearly HKD 2 billion, which is about HKD 1.7 billion after discount, and sample open and registration will start on this Saturday, Cheung Kong Investment Director Kwok Chi Wai pointed.
Viewing the second hand transaction sq ft price in Hung Hom, since there has been no large residential projects for many years in this district, and the private house age is large and supply of large unit is lack, besides in same district only The Harbourfront Landmark is in similar grade, so comparing these two the first batch average discounted sq ft price of Stars By The Harbour is lower 19% than The Harbourfront Landmark average sq ft price at HKD 29 thousand.
About if developers have pressure from government's saying that they will supply 83 thousand first hand residential units in the following three to four years, he believed, government just chase back the supply which they did not fulfill in early to balance residential property supply and demand, so it will not affect developers' pricing, also recent stock market volatility did not largely impact property market.
Upton sold one at HKD 58.44 million.
Other luxury projects keep registering transactions. EMPEROR IHL Upton in Sai Ying Pun sold one unit yesterday, which is room A in 35th floor in usable area of 1,753 sq ft and sold at HKD 58.44 million with parking spot, with sq ft price at HKD 33,339. This project has sold 99 units and 24 parking spots, taking in about HKD 2.7 billion.
Besides, Hung Hom Homantin Hillside sold room B in 23rd floor block 1 at HKD 22.75 million yesterday, which is three rooms unit in area of 926 sq ft and at sq ft price at HKD 24,571, Wing Tai Properties Limited executive director and sales marketing director Chen Yuk Shing expressed. It is known, buyer is proprietor from Happy Valley who plans to rent out it for long term.
Ultima collects registrations above 16 times of the quota.
Hong Kong Real Estate Association featured small-medium residential project Heya Aqua in Cheung Sha Wan had collected more than 4,600 registrations for its all 275 units until last night, exceeding 16 times than quota. Registration will close tomorrow, and the house selection order will decided by draw lots on this Friday, then sales will start on Saturday.
