Property 

Hong Kong’s homebuyers snap up Billion Development’s Aurora flats in Tsuen Wan, attracted by lowest prices in neighbourhood

Hong Kong buyers snapped up every flat for sale in Tsuen Wan, delivering a second successful weekend for the developer that offered the project at one of the lowest prices in the district.Billion Development & Project Management sold all 216 apartments offered in the second batch of The Aurora complex, sales agents said. Last weekend, the developer sold all 354 units in one day, after selling them at a price that’s 10 per cent cheaper than the nearest project in the neighbourhood.“Flat demand… Source link

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Buyers shrug off Hong Kong rallies to snap up Aurora flats in Tsuen Wan, offered at 10 per cent discount to the neighbourhood

Homebuyers shrugged off a downpour and Hong Kong’s 11th week of street protests to snap up the flats offered at a discount by Billion Development & Project Management in Tsuen Wan.Billion sold 300 flats, or 85 per cent of the 354 available units on offer at The Aurora as at 5pm, sales agents said, adding that they expect the project to sell out by the end of the day.Prices at The Aurora start at HK$3.81 million (US$485,720), or HK$17,558 per square foot, for a 217-square foot (20 square metre)… Source…

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Central-Wan Chai Bypass elevates the fortunes of working-class neighbourhood of North Point

In Hong Kong’s Eastern District of North Point, the old and the new blend seamlessly together. Alongside new, upscale residential projects and glass-fronted office towers, stand decades-old residential buildings, a bustling wet market and even the State Theatre, a Grade 1 historic building. Sun Hung Kai Properties achieved HK$61,000 (US$7,777) per square foot for a flat at its new Victoria Harbour development, while Henderson Land Development’s office tower at 18 King Wah Road sold for HK$9.95… Source link

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Foreign funds zero in on Hong Kong’s neighbourhood malls as next big investment opportunity

Foreign funds are increasingly considering smaller malls and shopping centres in Hong Kong’s more residential neighbourhoods for investment purposes, with the idea of repackaging undervalued properties and capitalising on a rebound in the city’s commercial rental market. Maggie Hu, an assistant professor of real estate and finance at the Chinese University of Hong Kong, said these funds found good deals in such malls. “First, these funds are betting that these malls are undervalued with current maintenance and management. And with professional management and strategic upgrading, they can improve the exterior…

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