Sales plans for The Carmel being shaped

Business | Samantha Wong 14 Mar 2018

Samantha Wong

Wing Tai Properties (0369) is preparing for pre-sales at its latest residential project in Tuen Mun, The Carmel, which will provide 178 units.

The project located at 168 Castle Peak Road is scheduled for completion in September next year. It comprises 48 houses that range in size from 1,000 sellable square feet to 4,000 ssf and 130 flats from 270 to 1,400 ssf.

K Wah International Holdings (0173) has meanwhile sold a special unit recently at K. City for a square-foot price of about HK$27,000.

The developer will also offer a four-bedroom unit for a sale by tender this Saturday.

In the secondary market, a four-bedroom home in Braemar Hill Mansions, North Point, went for HK$33.3 million, or HK$22,665 per square foot.

The seller had bought the 1,467-ssf property in 2009 for HK$16 million, or about HK$10,900 pssf, according to the Century 21 Sunrise Property Agency.

On stamp duty statistics, the Inland Revenue Department reported yesterday that 47 residential property transactions were subject to special stamp duty in February.

The amount of duty collected was HK$29 million compared to HK$16.3 million 12 months earlier.

The amount of buyer's stamp duty, which is applied to non-Hong Kong permanent residents, amounted to HK$725 million against HK$716.3 million the previous February.

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