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Hong Kong’s real estate buyers take a breather, ending the three-week sales rally at Road King’s South Land project

In Wong Chuk Hang on the southern corner of Hong Kong Island, Road King sold 22 of the 106 flats on offer at its South Land project

In Tuen Mun, Sun Hung Kai Properties (SHKP) managed to find buyers for 13 flats out of the 82 on offer at the second phase of Regency Bay

Hong Kong’s property buyers took a break over the weekend, shrugging aside most of the 188 apartments on offer at two locations, as their demand had been sated by a string of property releases.

In Wong Chuk Hang near Aberdeen on the southern corner of Hong Kong Island, Road King Infrastructure Limited sold 22 of the 106 flats on offer at its South Land project. In Tuen Mun, Sun Hung Kai Properties (SHKP) managed to find buyers for 13 flats out of the 82 on offer at the second phase of its Regency Bay development.

The dismal showing at South Land, in stark contrast to its three previous sell-out weekends, had a more benign explanation: the most sought-after apartments comprising three, and four bedrooms, had sold out, leaving only the less popular studios and single-room flats, property agent said.

“The remaining units, most of which are studios and one-room flats, did not appear to be well received by investors,” the agent said, adding that the overall marker remains strong. “The weak sales were not a surprise.”

Hong Kong’s first-quarter economy expanded at a faster-than-expected 7.9 per cent, the fastest quarterly pace in 11 years, beating economists’ forecasts and bolstering investors’ confidence in the city’s property market.

Home prices have also benefited from rising vaccination rates that helped authorities keep Covid-19 under control. Cheap money unleashed by global banks emerged to be another driving force for the local home market as property assets became people’s new darlings battered by worries of higher inflation.

The number of new homes sold in Hong Kong from January 1 to May 19 increased to 6,350 units, 19 per cent higher than the same period in 2020, according to the Hong Kong Economic Times, which projected that first-half sales would rise 30 per cent to 9,000 flats.

The weekend’s sale at South Land was the developer’s fourth round of sales. The project, jointly developed by Road King, Ping An Insurance and the MTR Corporation, was the first residential development atop a public transport terminal in nearly three decades.

The project began selling on May 1, with all 240 flats going on the first day. The second batch of 180 also sold out a week later.

The 106 units on offer on May 22 range from 368 sq ft to 965 sq ft with prices starting from HK$11.83 million (US$1.52 million) to HK$41.97 million. Road King offered up to 18 per cent discount on the remaining flats, following brisk sales of the units that were snapped up by investors in the previous weeks.

SHKP offered the 82 units at Regency Bay II in Tuen Mun for on a “first-come, first-served” basis. Apartments on offer ranged from 299 sq ft to 501 sq ft, with discounted prices of HK$5.79 million to HK$11.07 million each, or HK$18,002 to HK$22,103 per sq foot.

(South China Morning Post)

 

觀塘寧晉中心中層2876萬沽 10年倍升

商廈成交略增,觀塘寧晉中心單位2,876萬成交,呎價1萬,持貨10年升近1倍。

市場消息指,觀塘成業街寧晉中心中層H室,面積約2,714平方呎,以約2,876萬元易手,呎價約1.06萬元,交吉交易。據悉,原業主於2011年一手向發展商購入,涉資約1,438萬元,持貨10年轉手,獲利約1,438萬元,升值1倍。

柴灣東貿廣場單位 1091萬易手

另消息指,柴灣東貿廣場中層D室,面積約1,417平方呎,以約1,091萬元易手,呎價約7,700元。另新蒲崗匯達商業中心高層單位,面積約5,632平方呎,以約5,463萬元成交,呎價約9,700元。

商舖方面,消息指,鰂魚涌英皇道1060號栢蕙苑高層地下,面積約20,277平方呎,目前由幼稚園及超級市場租用,物業獲2.6億元洽購至尾聲,料快將易手。

據了解,該舖位由麥當勞快餐店持有,該集團持有物業兩層,其中高層地下曾租予健身中心,其後轉租給超級市場。據悉,集團於兩年前,曾把6項物業於市場放售,除了上述栢蕙苑商舖,亦包括尖沙咀星光行地庫、屯門鄉事會路康麗花園地下等。

(經濟日報)

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粉嶺地招標市值約20

政府推地步伐未見放緩,下周推出粉嶺粉錦公路與青山公路-古洞段交界地皮招標,為年內推出的第二幅古洞區地皮,市場將調高地皮估值、至約18.5億至20.7億,樓面呎價約6500至7300元,料將吸引本地中大型發展商參與競投。

料中大型發展商競投

地政總署公布,該地面積約47362方呎,以地積比率6倍計,可建約28.4萬方呎,於6月25日截標。政府銳意拓展新界東北,當中古洞北新發展區內首幅住宅地,於上月底以高價約86億,樓面呎價7183元成交,反映區內發展潛力,令是次招標地皮估值亦水漲船高。

有測量師表示,儘管是次地皮位置相對上次招標的較遠離鐵路站,環境還是十分良好,而且古洞區有其發展潛力,預料樓面呎價達7300元水平,總值約20.7億,續吸引本港的大型地產商。

(星島日報)