Home 

Hong Kong protests fail to dampen demand for micro flats as T-Plus project in Tuen Mun sells 245 out of 344 units

The allure of a property “bargain” in Hong Kong may be stronger than concerns about the recent social unrest that has rocked the city if sales of tiny, heavily discounted, flats at a major project in Tuen Mun today were anything to go by.By 6pm on Sunday, 245 of the 344 units on offer at T-Plus had been bought, making it the largest weekend property sale since the huge rallies against the government’s proposed extradition bill began last month. Sales are set to continue until 11pm and resume on… Source…

Read More
Property 

Homebuyers give their collective cold shoulder to new flats in Tuen Mun, Tai Po as persistent protest rallies weigh on sentiments

Hong Kong’s property buyers gave their collective cold shoulder to the biggest sale of new homes in a month, picking up just over 30 per cent the 442 new flats on offer, as sentiments stayed downbeat amid protest rallies that have persisted since early June.Wing Tai Properties sold 23 of the 110 flats at its OMA OMA project in Tuen Mun as of 9pm, according to sales agents. China Overseas Land & Investment sold 111 of 332 units on offer at The Regent in Tai Po, with a total contracted…

Read More
Home 

Prices of micro flats at T-Plus in Tuen Mun slashed by 38 per cent as developer looks to lure back buyers

The developer of a micro flat project in Hong Kong has cut the price of flats that are smaller than a car parking space by 38 per cent, after managing to sell only two units during the initial launch in December.Prices were unveiled on Thursday for 36 flats at the T-Plus project in Tuen Mun, jointly developed by ­Jiayuan International Group and Stan Group,starting at HK$1.73 million (US$222,200), which makes it the cheapest property in the city since CK Asset Holdings sold 165 sq ft units at… Source link

Read More
Home 

Vanke to sell 251 flats in Tuen Mun on Sunday, defying downbeat mood amid trade war, street protests and rising rates

The Hong Kong unit of China’s most valuable property developer said it is putting 251 flats up for sale this Sunday, in a defiant launch against downbeat sentiments amid a worsening US-China trade war and the city’s biggest street protests in two decades.Vanke Property (Hong Kong) will sell 251 units of its Grand Le Pont apartments in Tuen Mun this Sunday in the latest phase of its launch, with prices in the fourth catalogue starting from HK$4.66 million for a 353-square foot unit to HK$9.3… Source link

Read More
Home 

‘Micro home’ developer says it will relaunch stalled Tuen Mun project next month

Mainland developer Jiayuan International says it will relaunch its “micro home” residential building in Tuen Mun around the middle of April, offering few details apart from a pledge to give homebuyers a “surprise” in the project, which remains 99 per cent unsold.Analysts said prices at the 356-flat T Plus, which is slated for completion in September, might be slashed by up to 15 per cent.Of 27 flats on offer only two were sold during a marketing launch on December 8, as the project competes… Source link

Read More
Home 

‘Micro-home’ project T-Plus in Tuen Mun halts sales drive amid lacklustre buyer response

T-Plus, the residential project in Tuen Mun made up of micro homes smaller than a car parking space, said on Friday it will suspend sales with immediate effect, without providing a reason for the halt. The project, co-developed by mainland developer Jiayuan International Group and local developer Stan Group, announced the freeze after having sold just two units in the 356-unit project since its launch on November 29. On Thursday, AVA 228 a micro-home project in Sham Shui Po debuted its price list for an initial batch of 50 units,…

Read More
Investment 

Chinese developer behind Tuen Mun nano flats comes under severe selling pressure as shares plunge 80pc in Hong Kong

Chinese property developers in Hong Kong came under severe selling pressure, with the shares of two builders sinking by as much as 80 per cent in late trading on Thursday afternoon. Analysts said the stocks may have taken a hit because of banks selling shares used as collateral to borrow money and tightening liquidity conditions on the mainland. Jiayuan International Group, which is behind the T Plus micro flat project in Tuen Mun, plunged 80.9 per cent to HK$2.49 at the close. The mainland-based developer has been under pressure as…

Read More
Property 

Hong Kong’s building boom in tiny flats fizzles out as T-Plus in Tuen Mun gets the cold shoulder

Speculative demand over Hong Kong’s shoebox flats – each smaller than the size of a standard car parking space – appears to be over as quickly as it sprouted, following the decline in the city’s median home price. Two potential buyers showed up at 11am at the sales office of the T-Plus project in Tuen Mun to inquire about its tiny apartments, each at around 130 square feet (12 square metres), with a price tag starting at HK$2.85 million (US$364,600), sales agents said. “Two flats were sold (at T-Plus) today,”…

Read More
Home 

‘Micro’ homes at T-Plus development in Tuen Mun priced at levels last seen in 2016

A residential project in Tuen Mun, made up of tiny flats smaller than a car parking space, is offering some of the cheapest new homes seen in the city since prices peaked in 2016. According to a price list released on Wednesday for the first batch of 73 units at T-Plus, the most affordable unit is being offered at HK$2.85 million (US$364,150). The smallest of the 73 flats on Wednesday’s price list was 131 square feet, or slightly bigger than the ultra-compact units with a net area of 128 sq…

Read More
Home 

Hong Kong reports another dismal sales weekend in Tuen Mun as home market heads for the big chill

Hong Kong’s residential property market witnessed another weekend of dismal sales, as even double-digit discounts could not lure buyers to commit, in yet another sign that the world’s priciest flats have given way to a buyers’ market. Chuang’s China Investments, which offered discounts of up to 16 per cent for 150 flats of The Esplanade project in Tuen Mun, managed to sell three units at 5:30pm, five hours after the launch kicked off, agents said. “The market has turned soft,” said Midland Realty’s residential division chief executive Sammy Po Siu-ming,…

Read More