(By Yan Lunle)
Citizens do not mind buying public house because there are less choices since property price is rising. Recently, many small size public houses were sold at latest peak prices. The day before yesterday, small size unit in 147 sq ft of Wah Ming Estate in Fanling sold at second highest sq ft price among Hong Kong public house, and later in yesterday, one unit also in 147 sq ft from Fung Tak Estate in Wong Tai Sin sold at sq ft price of HKD 12,789, up to the latest peak price among Hong Kong public house after land premium, what is more higher sq ft prices are estimated to appear successively.
Within one month, the first three highest sq ft prices of Hong Kong public house after land premium was refreshed. In the end of April, one high floor unit from Pik Fung House in Fung Tak Estate, the usable area of which is 147 sq ft, was sold at about HKD 1.8 million including land premium, with sq ft price at HKD 12,245. Rising continues even though people think it is crazy. Days before, one high floor mini unit from Shun Ming House Wah Ming Estate in Fanling, which also is in 147 sq ft, sold at HKD 1.78 million including land premium, pushing New Territories public house price near to down town public house price and once up to the second highest public house price in Hong Kong.
Single lady bough small size unit by HKD 1.88 million.
However, soon later in yesterday, one medium-high unit from Pik Fung House Fung Tak Estate in usable area of 147 sq ft was sold at HKD 1.88 million including land premium with sq ft price at HKD 12,789, higher by 4.4% compare with record of HKD 1.8 million and sq ft price at HKD 12,245 in the end of last month made by one same kind unit from the same project, also it becomes the most expensive public house in Hong Kong. Buyer of this unit is a single lady who rent suite in other district, agency expressed. Currently, the first two most expensive public houses both in Fung Tak Estate, while the one in Wah Ming Estate ranks the third.
Why small Lump Sum public houses are popular and sold at higher and higher peak sq ft prices recently? Choice for young new buyer and investors are less because property price is rising, while the cost for these super mini public houses is low to under HKD 2 million, and tax only need HKD 100 if calculate by former stamp duty, so its easy for potential buyers, insider pointed. Besides, this kind of property is popular with renters because it is house style and has convenient transportation, so the rate of renting return will be good, what a coincidence!
It is known, projects at usable area sq ft price around HKD 12,000 include Kornhill Gardens in Quarry Bay Hong Kong Island and Metro City in Tsueng Kwan Kowloon, also the new project The Beaumount II which will be put on sale this Thursday supplies many units at sq ft price under HKD 12,000. Not only above public houses sold at latest peak prices, but also many public houses in the market sold at high prices. It is known, low floor room 23 from King Fat House Cheung Fat Estate inTsing Yi, usable area of which is 443 sq ft was sold at green form price HKD 2.3 million, with sq ft price at HKD 5,192, up to the latest peak among that project.
Price of second hand property in Tsueng Kwan up to the peak continuously.
Moreover, top floor room G in block 5 of Tseung Kwan O Plaza including terrace in usable area of 517 sq ft sold at HKD 7.7 million, with sq ft price at HKD 14,894, being the latest top in that project.
Room F in 37th floor of block 8 in Metro City II Tsueng Kwan, which is in 362 sq ft, sold at HKD 5.25 million and at sq ft price of about HKD 14,503, and its sq ft price up to the latest peak among the project except feature flat joining with terrace.
