Price-sensitive buyers snap up 51 units at The Quinn Square Mile in Tai Kok Tsui, netting HK$330 million for Henderson
Young buyers snap up 51 units out of 138 on offer at The Quinn Square Mile, Henderson Land says
Sunday’s launch follows an eventful week of new launches as pent up demand resurfaces after Covid restrictions
Henderson Land Development sold 51 units out of 138 on offer at the residential project The Quinn Square Mile
in Tai Kok Tsui on Sunday, according to the developer, as
price-sensitive buyers snapped up small-sized flats amid a pickup in new
project launches from developers over the past week.
of the units sold by 6pm were one-bedroom flats and studios, according
to property agents, with the majority of buyers being end users younger
than 30 years old. Agents expected about 60 per cent of all available
units to be sold by the end of the day, the second of the three-day
Labour Day weekend.
buyers remain optimistic about the property market outlook, as there is
a strong pent up demand from buyers standing on the sidelines in the
first quarter and fourth quarter of last year,” property agent said.
sale of the Henderson Land project followed an eventful week of
launches from developers, which saw new orders from buyers every day of
the week. This is in sharp contrast to the preceding three-month lull in
sales as social distancing measures linked to the city’s fifth wave of
Covid-19 caused developers to delay new project launches.
Ahead of the sale, The Quinn Square Mile
received 900 registrations from interested buyers, meaning about 7
interested buyers were going after each of the 138 units on offer,
according to local media.
batch released today, which accounts for about a fifth of the total 614
units in the project, also featured two-bedroom flats, with the biggest
flat measuring up to 382 sq ft. The first-batch units were earmarked
for sale at an average launch price of HK$23,928 per square foot after
discounts offered by the developer.
That is about 1 per cent lower than units at Soyo, another tiny flat development
in Mong Kok from Chun Wo Development Holdings. The launch price for
those units last December was an average of HK$24,179 per square foot.
The Quinn Square Mile sales have so far netted HK$330 million for Henderson Land, according to Mark Hahn, the general manager of sales.
resurgence in interest has also come ahead of more rate hikes in store
for the rest of this year, which could increase buyers’ mortgage
repayments down the line.
US Federal Reserve is widely expected to raise the Fed funds rate by
half a percentage point this month, as US inflation rose at the fastest
pace in 40 years. The Hong Kong Monetary Authority would likely mirror
the hike in its base lending rate due to Hong Kong’s currency peg to the
US dollar, adding upwards pressure to mortgage payments linked to
potential buyers may be prompted to buy ahead of further rate hikes,
which banks typically respond to with higher income requirements for
mortgage applicants, agents said. That might have fuelled sales at The Grand Mayfair I in Yuen Long, which was developed by Sino Land, K Wah International and China Overseas Land and Investment. All 388 flats on offer sold out on Friday.
of new homes are likely to hit 1,200 units in April, according to
another property agent. That would make it the busiest month since
December, when 1,493 units were sold, according to Land Registry data.
Sales could rise further to a 10-month high of 2,000 in May, the agent
(South China Morning Post)
為協助公務員建屋合作社 (下稱合作社) 解決重建難的問題，市區重建局 (下稱市建局) 於2020年5月以試點形式啟動土瓜灣區兩個合作社項目重建計劃，其中盛德街/馬頭涌道重建項目 (下稱盛德街項目) 去年8月開始收購，至今年4月底已有逾九成業主接納收購。市建局亦透露，已就西灣河一帶合作社向業主進行意見調查，絕大部分業主期望其樓宇可作重建。