35 apartments sold La Splendeur, 2% buyers from Guangzhou and Shenzhen
Li Yongqing, Liang Yueqin, Li Changhong (Hongkong Wenwei po) Mainland provinces and cities launched purchase restriction order, promoting mainland capital flow into Hong Kong residential market. On the occasion of the Golden Week of National Holiday and the opening of Shenzhen real estate trade fair in autumn, developers took every effort to attract mainlanders. La Splendeur in Tseung Kwan O of Cheng Kung Group had seen about 130 to 150 mainlanders from Guangzhou and Shenzhen for visit. Market has it that La Splendeur had a sales record of 35 units and 2% of the buyers were from mainland.
In the Golden Week, La Splendeur in Tseung Kwan O has accommodated, via estate agent, more than 1,000 mainland visitors to inspect the sample flat. There were 130 to 150 visitors yesterday mainly from Guangdong and Shenzhen. Visitors still north have to wait for another 2 to 3 days for a visit. Huang Sicong, investment director of Cheng Kung Group expected that mainlanders took up 20% of the buyers yesterday, or twice as previous and the majority of them focused on investment.
La Splendeur increases estate highlight in this week
Huang Sicong points out that mainlanders take up a higher proportion than before mainly as a result of mainland stock market turbulence. The majority of the mainlanders consider purchasing properties “safe” and they prefer apartments with 3 or 4 rooms, of which those with a hillside view is especially popular for mainlanders don’t care too much about the price as the sceneries. 50% of Hong Kong buyers buy for investment and others for self-occupation. Besides, he added, a mainland buyer bought two 4-room apartment yesterday, located in the middle and upper floor of the 9th building, each covering 1,300 square feet and costing over 16 million HKD.
Huang Sicong also says new price lists shall be published this week. The price of apartments with a hillside view will be increased first, increase range being 2% to 5% while increased units unfixed. The current average feet price of hillside apartments is 6,200 to 6,300. By then La Splendeur has sold over 500 units, cashing out 3.2 billion HKD with average feet price in construction period being 6,100 HKD. The number of current hillside apartment is less than 200, which will not be totally put into market this year.
Marinella to start selling tomorrow
As is seen at the sales office in Victoria Mall, Tsim Sha Tsui, a Mrs Zhang told us that sales price of La Splendeur was acceptable, but after visiting the sample flat, she would exchange views with her relatives based on apartment data before making decisions.
Other new properties are wasting no time. Yesterday, Marinella, Aberdeen, co-developed by K. Wah Realty Co., Ltd，Sino Land Co., Ltd. And Nan Fung Group opened sample flat in underground K Wah Centre, Pak Kok for buyers to visit, led by estate agents. It is planned to open market the next day. The market has it that 15 apartments have been reserved, largely distributed on the 6th and 8th floor.
Four new prosperities attract buyers from Shenzhen
Meanwhile, 2011 Shenzhen autumn real estate trade fair is held at Shenzhen convention center from yesterday to October 5. Due to the purchase restriction order, many mainland investors moved to Hong Kong residential market. Mr. Lin, representative of participants from Centaline Property Agency Limited, said that 4 new properties were introduced to mainland investors this time, including Marinella, Winfield Building，La Splendeur and The Masterpiece. Many mainlanders inquired about these new properties.
Among the 4 properties, the most expensive is Winfield Building at 23,000 HKD per square foot, while the least expensive is La Splendeur at 5,500 HKD per square foot. He claims that La Splendeur is popular with mainlanders for its relatively low price. He also says despite an increased mortgage rate of Hong Kong properties, mainlanders are still optimistic about Hong Kong residential market, taking up 40% of the investors in Hong Kong luxury housing market. Mr. Xu from mainland told the journalist that he bought a suit in Kowloon city with 20 million HKD in preparation for his son to study in Hong Kong and also for the purpose of investment.
