Content (Length: 1305)
(By Liang Yueqin)
Even though the market is in downward, SHKP yesterday announced to open the sample flat in International Commerce Centre, Kowloon to public and to collect the applications at the same time tomorrow as scheduled, after launching the first price list of total 108 houses of the new project Mount Regency II in King Sau Lane, Tuen Mun at average discounted sq ft price of HKD15,200 on this Tuesday. However, the industry estimates that the pace of developers’ project launching will slow down, and the number of new homes being launched this month will still be less than 1,000, also the overall sales volume will be reduced by more than half monthly.
The acting general manager of business department of SHKP, Zhang Zhuo Xiumin expressed yesterday that, the layouts of houses in Mount Regency II are more, open style and three-bedroom houses among are the first time to be launched, and the three-bedroom houses king uses the design of almost no corridor, making the residents to use every corner flexibly. The sample flat will be opened to the public from tomorrow and the application will start at the same time.
According to reports, all the hand over standard houses of Mount Regency II are equipped with electromagnetic cooking stoves, built-in microwave ovens, built-in refrigerators, built-in washer/dryers, and electric water heaters, also all hand over houses in phase I and II will be upgraded with full house manual curtains, integrated router (hidden), USB dual-position electric socket and bathroom treasure (ceiling type).
No further information for other new projects.
SHKP’s project in Midlevels West yesterday increased the price of room B on 32nd floor by 11.4% and would put on sale it next Monday, and this house in usable area of 607 sq ft is HKD25.322 million with the sq ft price at HKD41,717 after the mark up, besides the discounted price is HKD22.156 million with the discounted sq ft price at HKD36,502 deducting the maximum discount of 12.5%. Ready project Grand YOHO phase 2 of same series in Yuen Long sold room C on 32nd floor of block 5 at HKD26.474 million by tender, and it is in usable area of 1,185 sq ft, leading the sq ft price to HKD22,341.
However, new projects which had announced to launch houses within the month including Fullsun’s La Salle Residence in Ho Man Tin, Wheelock’s LOHAS Park GRAND MONTARA, New World’s ATRIUM HOUSE in Yuen Long, and Wing Tai’s OMA OMA in Tuen Mun, had no further news until yesterday, and it is estimated the developers will slow down the pace in response to market conditions.
Q-Fang estimates the sales volume of new houses will fall over half a month.
In fact, due to the effect from the Sino-US trade war, the stock market has dropped significantly, and the new house sales have slowed down noticeably. Q Fang Hong Kong Data Research Center, according to the first-hand residential property sales information network, recorded no new houses for sale in the first half of June, and only 290 new houses had been sold in this month as of the 12th, sharply down 83.4% from the 1,755 houses of the same period in May.
The managing director of Q-Fang Hong Kong, Chen Kunxing expresses, many developers have changed their sales and deployment with the increase of negative factors in the market, and the overall first hand property sales volume has been rapidly reduced to a predicted volume of less 1,000 houses in this month, sharply down by over half from last month. Hong Kong latest total first hand stock houses have fallen to about 10,209 units, a new low in nearly 9 months, since the purchasing power had moved to the stock house market.
On the other side, cases of forfeiture of deposit continue to appear. Poly’s ready project Vibe Centro in Kai Tak had one more case of forfeiture of deposit on feature house, which is room A23 on 2nd and 3rd floor of block 3 covering the usable area of 977 sq ft, and it was sold at HKD28.1378 million on May 11, but the buyer who had also signed a formal sale and purchase contract gave up on this Tuesday (June 11), besides it is estimated the developer confiscated with a 10% deposit involving more than HKD2.81 million.
Chuang's China’s The Esplanade in Tuen Mun also recorded one case of forfeiture of deposit for room T on 13th floor, which is open style house covering usable area of 223 sq ft, and it had been sold at HKD3.7958 million on April 1 by tender, also the buyer had signed the formal sale and purchase agreement on April 11, but the trading was canceled, besides it is estimated 5% deposit at about HKD190,000 was confiscated.
