Property 

New home prices in Lohas Park decouple from soaring land premium amid abundant supply

Prices of new flats in Lohas Park in Tseung Kwan O have fallen to near 2017 levels despite soaring land costs in the area, contradicting a strong recovery in the world’s most expensive property market.Late last month, Wheelock Properties released flats at its Montara project at a steeper than usual discounts to woo buyers. The move came a day after MTR Corp on April 25 awarded the 11th phase of development at Lohas Park, in which land premium paid to the government surged to a record HK$3,194 … Source link

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Consortium of three developers wins bid for priciest land plot in Lohas Park, signalling bullishness on outlook

A consortium made up of Sino Land Company, K. Wah International Holdings and China Merchants Land beat out 10 rival bids to win the latest phase of the Lohas Park development, the project that could fetch the highest new flat prices in the community, the MTR Corp said on Thursday.“The winning developers have great experience in residential property development and sales,” said Thomas Lam, executive director of Knight Frank. “In the long term, the supply of residential land at MTR stations is… Source link

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MTR draws 11 bids for the priciest land plot in Lohas Park as the return of Hong Kong’s property market bull run lifts confidence

Lohas Park has drawn 11 bids for the latest phase of its residential development in the New Territories, as developers vie for the land parcel near the sole shopping centre in Hong Kong’s largest residential community.Eleven bids were submitted for the plot, which can accommodate up to 1,850 homes on 950,000 square feet (88,200 square metres) of gross floor area. That translates into more than one fifth of the 8,800 private flats expected to be built on the 15 private residential sites to be… Source link

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MTR to sell choice lot at Hong Kong’s gargantuan Lohas Park by end of month

Rail operator MTR will soon put up for sale a prized lot in what eventually will be Hong Kong’s largest residential estate, likely setting off a bidding war as land for private development hits a 10-year low.The lot – to go up for sale by the end of the month – is at phase 11 of the gargantuan Lohas Park. When completed in 2025, Lohas Park will become Hong Kong’s largest residential community, with 58,000 residents in 21,500 units.The Tseung Kwan O development in the New Territories is being… Source…

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