New projects sweeten pot for buyers

Business | Jeannie Tang 28 Nov 2018

Developers are offering different benefits to home-buyers to boost sales in the first-hand market.

Wheelock Properties launched second mortgage plans in six projects for 97 units - Capri, Monterey, Savannah, Island Residence, One Homantin and NAPA.

Lai Sun Development (0488) and Empire Group Holdings will provide the buyers of eight units at Alto Residences in Tseung Kwan O with stamp-duty allowance and discounts on furniture.

T Plus in Tuen Mun has uploaded sales brochures for 356 units. The smallest one is sized at 128 square feet.

The secondary market recorded some price-cut deals.

A 899-sq-ft flat at City Point in Tsuen Wan recorded a price cut of HK$4.8 million. It was sold for HK$11.2 million, or HK$12,458 per sq ft. The seller put the property on the market in March with an asking price of HK$16 million.

A three-bedroom unit at City One in Sha Tin, which measures 819 sq ft, changed hand for HK$10.48 million, or HK$12,796 per sq ft, after a price cut of HK$1.32 million.

A homeowner at Kingswood Villas in Tin Shui Wai slashed HK$1 million off the asking price to sell a 639-sq-ft home for HK$5.38 million, or HK$8,419 per sq ft.

Meanwhile, Rykadan Capital (2288) has acquired some properties in Jaffe Road, Wan Chai, for HK$228 million.

In other news, Chuang's China (0298) reported a year-on-year drop of 2.2 percent in interim net profit to HK$94 million, while its revenue increased by 52.9 percent to HK$127 million.

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