The discounted average sq ft price of HKD 25,900 is close to market level; Open style house buyer will earn first mortgage in 90%.
(By Liang Yueqin, Li Zitian)
Developers are accelerating the pace of property launching, as United States does not raise interest rates and the first hand property market is hot. Henderson chairman Lee Shau Kee’s tiny project The Consonance, North Point in pre-sale period of about 17 months announced the first price list including 50 houses at market level yesterday, with the average sq ft price at HKD 27,607, and the discounted average sq ft price is HKD 25,951 after the highest 6% discount, among the open style house in 196 sq ft is at discounted lowest price of HKD 4.98 million. The developer also provides first mortgage in 90% for 12 open style houses among, and the highest in 85% for the remaining.
The Consonance launched the first batch at market level, with prices referring to many new projects of the same series in Island East, and the latest second hand transaction sq ft price of one-bedroom house from nearby The Hemispheres in same series is about HKD 25,500, the first price list of which includes 12 open style houses and 38 one-room houses, with 12 among are at discounted prices lower than HKD 6 million, the deputy general manager of sales department (2) of Henderson, Han Jiahui expressed. He pointed out that this project collects application since today, and it is not exclude to additional launch more if the feedback is ideal, also there will be space for mark up, besides the sales predicted to start next week.
The first batch of 50 houses are expected to be put on sale in the middle of next week.
The first batch of 50 houses in The Consonance with areas from 196 sq ft to 270 sq ft are at discounted prices from HKD 4.98 million to HKD 7.473 million, and the discounted average sq ft price is HKD 25,951. At present, the second-hand average price of second-hand single buildings such as DIVA and The Hemispheres adjacent to the project is about HKD 23,000 to HKD 25,400.
New houses under HKD 5 million are rare in Hong Kong Island, so it is believed the project possible be sold out since it is unique across Hong Kong Island, and price increase of about 3% to 5% on additional launched houses will be acceptable, the Asia Pacific vice chairman and president of the residential department of Centaline Property, Chen Yongjie expressed. The Chief Executive Officer of Residential Department of Midland, Bu Shaoming expressed, the pricing is lower than the new projects in the same district, and the proportion of investors estimated to reach 40%.
The same series project The ADD1+1ON in Cheung Sha Wan also is coming soon. The ADD1+1ON will upload brochure tomorrow and possible to make prices plus open sample flat within this week, the first batch of which will include one-bedroom houses in 269 sq ft and two-bedroom houses in 479 sq ft joining with store room, and it is predicted the sales will start in the first ten days of April, also developer will provide first mortgage in 90% of the highest, the deputy sales department (1) general manager of Henderson, Lin Damin expressed. This project has 200 houses in total, including open style to two-bedroom, with half of them are one-room.
Mayfair By The Sea 8 additional launched 56 houses with mark up.
On the other hand, the sales department co-director of the Sino, Tian Zhaoyuan expressed, MAYFAIR by the sea 8 in Pak Shek Kok, Tai Po yesterday additional launched 56 houses at discounted average sq ft price of HKD 14,800, average price up about 2-3.5% compared with previous batch, and this batch includes 11 units in two-bedroom and 45 units in three-bedroom, with the discounted prices from HKD 8.517 million to HKD 11.911 million after the highest discount of 19.5%, which will be put on sale on this Saturday.
Vanke's Le Point in Tuen Mun also announced yesterday to launch 251 houses on this Saturday, 69 units among will be put on sale by first arrive first served, and the other 182 units will be put on sale by every day bidding, including 9 rooftop feature houses named ‘ Sky Le Pont’ and 2 villas. The marketing and customer relations department director of Vanke real estate (Hong Kong), Zhou Mingxi predicted, the sq ft price of rooftop feature houses will up to or above HKD 20,000, which may possible to break the latest peak record of the project.
Zhou Mingqi said, this project has 11 rooftops feature houses named "Sky Le Pont" in areas from 792 to 1,574 sq ft and some among have rooftop in more than 1,000 sq ft..
Cheung Kong sold villa in Repulse Bay Road at around HKD 500 million.
About first hand property trading. Cheung Kong sold the No.3 villa in #90 Repulse Bay Road of which the area is 5,668 sq ft, at about HKD 503 million, with the sq ft price at about HKD 88,900.
