The new projects continue in good selling. Developers start to decrease the privileges. Kowloon Development’s Upper West in Tai Kok Tsui decided to increase down payment percentage of construction period payment which was super low and long to 40 months on Sunday when is Chinese New Year’s Day. The percentage will increase to 25% from 20% and it will up to 30% until Lantern Festival (24th February). The Reach in Yuen Long cooperatively developed by Henderson and New World will additional launch 100 units. Double Cove in Lok Wo Sha which is in same series will also additional launch 20 units. The houses selection will be on this Friday at the soonest.
Yang Cong-yong, the city service and sales department general manager of Kowloon Development expressed, Upper West has sold and reserved more than 60 units since announced the prices and put on sale publicly last week. At least 2 units bought by mainland customers who need to pay BSD. They are duplex units connecting with terrace and located in room B, 46th and 47th top floor. The cover areas are 1,288 sq ft and the usable areas are 966 sq ft. Terrace and garden are separately 492 sq ft and 125 sq ft. The selling prices were HKD 25,792,200 with cover area sq ft prices at HKD 20,000 and usable area sq ft prices at HKD 26,000. The prices are the highest price in the project. Buyers should pay more than HKD 3.86 million for BSD.
60 units have been sold and 2 bought by mainland customers.
He pointed out, the group decided to adjust the privilege seeing the market warming. The cash payment favorable plan still being supplied. Buyer who choose cash payment can immediately earn 10% discount for unit price.
Upper West sale office will close from Chinese New Year’s Day to the Fifth Chinese New Year Day. It will open since the Sixth Chinese New Year Day. Source told, Upper West sold 6 units yesterday and buyers are all Hong Kong people.
The Reach additional launched 100 units and the house selection will be on Friday at the soonest.
As for other new projects, The Reach in Yuen Long cooperatively developed by Henderson and New World additional launched 100 units which are located in building 12 with cover areas from 492 sq ft to 604 sq ft yesterday. The prices are from HKD 3.319 million to HKD 4.449 million and the sq ft prices are from HKD 6,638 to HKD 7,378. The house selection will be on Friday at the soonest. Source told, The Reach sold 3 units yesterday.
Double Cove in Lok Wo Sha which is in same series also additional launched 20 units. The average cover area sq ft price is HKD 9,298. They are located in room D and room E, 11th -23rd floor, building 1. The cover areas are from 1,034 sq ft to 1,038 sq ft. The sale prices are from HKD 9.52 million to HKD 9.965 million and the sq ft prices are from HKD 9,180 to HKD 9,600.
FOK MAN SON bought 3 units of Azura at more than HKD 136 million.
In addition, room A, 45th floor, Swire Properties Limited’s Azura, Midlevels West which in 1,665 sq ft sold at HKD 45.7 million with sq ft price at about HKD 27,400 according to data of Land Registry. The register buyer is FOK MAN SON. It is same to the name of the son of Fok Ying-tung who was the late Vice chairman of the CPPCC national committee. It is known that, the same buyer bought 3 units f Azura at more than HKD 136 million. The units are located in room A, 42nd , 43rd and 45th floor. The cover areas are all 1,665 sq ft.
