Property 

Property buyers snap up Great Eagle Holdings’ flats in Tai Po even as two simultaneous rallies rattle Hong Kong’s nerves

Hong Kong investors have snapped up the latest launch of small flats, as the first interest rate cut in more than a decade persuaded buyers to set aside concerns of rising political instability, even as protesters held two opposing rallies simultaneously across the city.Great Eagle Holdings sold 119 flats, or 96 per cent of 124 flats on offer at its Ontolo complex in Pak Shek Kok of Tai Po as at 3pm, according to sales agents, who predicted that the developer would chalk up a second weekend of… Source link

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CK Asset, Sun Hung Kai compete for homebuyers’ cheques in Sham Shui Po, in a battle that can set the course for Hong Kong’s market

Two of Hong Kong’s largest property developers are poised to compete head to head next month for the chequebooks of the city’s homebuyers, in a battle that will determine the course of the world’s most expensive real estate market.CK Asset Holdings, founded by the city’s wealthiest man Li Ka-shing, will start selling the 876-unit Seaside Sonata residential project in Sham Shui Po, its first sale in 2019 and a third of the 2,400 apartments on its contract book. Sun Hung Kai Properties (SHKP)… Source link

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Great Eagle launches Ontolo, first residential project in 29 years, at lowest prices in Tai Po after getting land for record-low five years ago

Commercial developer Great Eagle Holdings is offering its first residential project in three decades with prices below the prevailing rate, having secured the land in Tai Po for a record low five years ago.The builder, best known for its portfolio of hotels, is selling flats at the Ontolo project at Pak Shek Kok for a little as HK$11,446 per square foot, the cheapest on the market in the upscale area near the Science Park. The average price in the first batch of 150 flats is HK$13,567 per… Source link

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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…

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Few takers for flats priced above HK$10 million at Centra Horizon in Tai Po as buyers’ confidence takes a hit

Investors’ appetite for new flats priced above HK$10 million (US$1.27 million) is showing signs of waning as they are hesitating to dig deeper into their pockets for large units, fearing a prolonged US-China trade war could hurt economic outlook.As of 5pm on Monday, developer Billion Development and Project Management only managed to sell 160 out of 307 units on offer at its Centra Horizon project in Pak Shek Kok, Tai Po, according to agents. Most of the units sold were priced below HK$6… Source link

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Buyers flock to Centra Horizon’s property sale in Tai Po, in an overwhelming response that is a harbinger of rising home prices

Homebuyers flocked to the weekend sale of a residential project in Tai Po, forming a long queue that encircled the sales office even after the developer priced its flats 4.1 per cent higher than a January offering, in a harbinger of rising real estate prices in Hong Kong.As many as 4,950 registrations of interest were received for 295 flats at the Centra Horizon project in Pak Shek Kok, or 16 bidders for every available unit. As of 7:45pm 220 flats, or nearly 75 per cent of the offerings, had… Source…

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Sun Hung Kai Properties wins Tai Po land parcel at auction for HK$6.31 billion

Sun Hung Kai Properties won a residential parcel in Tai Po for a higher-than-expected HK$6.31 billion (US$804 million) on Friday, its second successful government land tender in a month. The price translates to HK$6,646 per square foot, 69 per cent higher than the previous site in the area which sold for HK$3,932 per square foot in 2016 to Sino Land but still 8.8 per cent lower than the peak of HK$7,284 per square foot paid by Sino Land in 2009 for the site now home to Mayfair by The Sea…

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Micro-sized housing project in Sham Shui Po offers discounts… and cheapest new homes in the city since 2016

Hong Kong’s newest micro-sized housing project has been priced at levels that represent a double-digit percentage discount to similar offerings released only a few months earlier. The offer of cut-price micro flats reflect the eagerness of the developer to adopt an aggressive pricing ­strategy as the residential market continues to cool. The 22-storey residential block named AVA 228 – a project in Sham Shui Po featuring 160 flats – has priced the smallest of an initial batch of units, measuring 151 square feet, at HK$18,563 per square foot, or HK$2.8…

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New ‘tiny home’ benchmark for Kowloon as developer rolls out Sham Shui Po project in layouts beginning at 129 sq ft

Hong Kong’s Kowloon district is about to realise a new benchmark for tiny home sizes that will test the market’s tolerance for what’s considered liveable space, with one developer set to launch a project in Sham Shui Po featuring layouts starting at 129 square feet, the smallest on record for the area. The 22-storey residential block named AVA 228 will feature 160 units with sizes ranging from 129 sq ft to 249 sq ft, according to the website of Magic Sight Holdings, a privately held developer owned by property investor…

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Is Hong Kong’s housing market recovering? Plot of land in Tai Po attracts more bids than expected

A parcel of residential land for sale in Tai Po fetched more bids than anticipated in a possible sign that Hong Kong’s developers are becoming more optimistic about the flagging market. The plot at Pak Shek Kok had received 10 bids when the tender closed at noon on Friday, beating Knight Frank’s estimate of five to eight bids. The builders that submitted bids included Sun Hung Kai Properties, CK Asset Holdings, Henderson Land Development, Wheelock Properties, K Wah International, K&K Property, Far East Consortium, KWG Property and a joint venture…

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