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Hong Kong homebuyers pounce on Starfront Royale launch in Tuen Mun, lured by easing pandemic and low interest rates

Hong Kong Ferry Holdings and Empire Group sold 218, or 88 per cent of the 248 flats on offer at the second phase of Starfront Royale in Tuen Mun as of 6:30pm

As many as 4,000 registrations of interest were received, which translates to 16 bidders vying for every available flat

Homebuyers and investors have seized the opportunity to get their hands on yet another new property project, snapping up most of the flats offered for sale on Sunday in one of Hong Kong’s fastest-growing districts.

Hong Kong Ferry Holdings and Empire Group sold 218, or 88 per cent of the 248 flats on offer at the second phase of Starfront Royale in Tuen Mun as of 6:30pm, with 16 bidders vying for each available unit, agents said. Hong Kong Ferry is owned by Henderson Land Development, one of the city’s largest property developers.

“Easing threat from the Covid-19 pandemic and expectation that low interest rates will stay for a long while have encouraged buyers,” agent said.

The successful launch of Starfront Royale, following CK Asset Holdings’ 90-per cent sell-out haul a day earlier, marked a bumper weekend for Hong Kong’s real estate market, after many months in the doldrums as the coronavirus pandemic, a two-year US-China trade war and a year-long spate of anti-government protests combined to take their toll on the industry. As many as 2,000 new flats are likely to be sold in November, a third more than last month, according to agent’s forecast.

Starfront Royale, comprising 614 apartments in the second phase, is scheduled for completion in April 2022. Prices range between HK$2.99 million and HK$15.3 million, or HK$14,369 to HK$20,486 per square foot, for apartments starting from 208 square feet to 996 sq ft (93 square metres).

Just over half the units in the project are one-bedroom flats, a quarter of them open-plan studios, with the rest two to four-bedroom apartments.

“Many first-time buyers and investors are attracted by the affordability of the smaller flats fetching HK$3 million to HK$6 million,” agent said, adding that he expects 90 per cent of Starfront Royale’s units be snapped up by the day’s end.

The project is located close to the Gold Coast marina and Harrow International School in Tuen Mun, one of the five districts in Hong Kong forecast by the Planning Department to see the highest population growth. The number of residents there are like to rise to 534,600 by 2026, an increase of 15.2 per cent from a decade ago.

CK Asset Saturday sold nearly 90 per cent of 98 flats of the El Futuro project in Sha Tin. New World on Monday sold all 197 flats at Pavilia Farm, following two consecutive sell-out weekends.

US Federal Reserve officials have said they expected to leave interest rates near zero through at least 2023, to nurse the economy battered by the pandemic.

The September price index for lived-in homes rebounded 0.42 per cent to 382.6, according to the Rating and Valuation Department, after recording the biggest decline since February in August.

However, it has fallen 1.1 per cent in the year’s third quarter when the city was gripped by social distancing measures amid the third wave of coronavirus pandemic, and remained 3.6 per cent lower than the May 2019 peak of 396.9.

Property agent attributed the improvement to the fall in new coronavirus cases since mid August.

The agent forecasts a 1 per cent rise in the price index in October, which could widen further if the number of new coronavirus cases remain low.

Good sales recorded by developers on first launches has started to help sentiment in the still weak market of previously occupied flats, the agent added.

“The fact that newly launched flats in multiple projects have attracted many potential buyers and have been snapped up shows that there are plenty of potential buyers on the sideline,” the agent said. “Many who missed out have turned their attention to the second-hand market.”

(South China Morning Post)

 

捷利中心兩舖位叫租共40

代理表示,灣仔捷利中心地下3及4號舖,總面積約3865方呎,意向月租約30萬元,呎租約77元,現已交吉。

該行指出,舖位前身為車行,樓底高約4.5米,面向告士打道採落地玻璃設計,空間感十足,適合作陳列室,另物業亦備有來去水及獨立洗手間,可作餐飲用途,租戶組合多元化。

業主了解到現時市況不穩,故於租約安排上提供極大彈性,務求全方位配合租戶要求;同時,亦接受短租客洽租,租金商議。

捷利中心另有一個面積較細的地舖招租,為地下1號舖,面積約1033方呎,意向月租約10萬元,呎租約96元,現已交吉。舖位內設獨立洗手間及來去水,前租客為酒吧。

(信報)

更多捷利中心出租樓盤資訊請參閱:捷利中心出租

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首十月50大指標甲廈成交跌近53%

疫症持續多月,本港經濟疲不能興,加上恢復通關尚未有時間表,令商廈前景不明朗。代理指出,今年首10個月50大指標甲廈僅錄得57宗買賣,按年大跌近53%。

代理表示,自去年社會運動開始,本港政治及經濟不明朗因素增加,甲廈交投拾級向下,而今年的疫情更令本港及全球的經濟步入寒冬,而與經濟表現掛鈎的寫字樓物業,交投因而受到重創。

代理指出,本港與內地恢復通關仍然未有具體時間表,意味經濟活動仍然未能復甦,為寫字樓物業的前景增添不明朗因素,因而令近月的甲廈成交量持續在低位徘徊。

今年首10個月多區甲廈交投急跌,例如以往成交暢旺的金鐘,今年以來僅錄得7宗買賣,遠遜去年同期的15宗,而指標甲廈之一的遠東金融中心,更是逾一年未錄買賣,同區的力寶中心交投按年同期也大減逾半。中環區今年首10個月更僅得2宗買賣,較去年同期的13宗大瀉近85%。中環皇后大道中九號環球大廈,分別已經25個月及28個月未錄任何買賣,情況為歷年罕見。

(信報)

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