Yuen Long project opens price list

New World Development (0017) received about 330 checks in the first price list of 110 apartments at Atrium House in Yuen Long yesterday.

Kevin Xu

Monday, June 17, 2019

New World Development (0017) received about 330 checks in the first price list of 110 apartments at Atrium House in Yuen Long yesterday.

It said the first batch would go on sale as early as this weekend, depending on the subscription.

The 110 units are priced between HK$3.99 million and HK$9.75 million, or HK$14,781 and HK$17,883 per sq ft after discounts.

Atrium House offers a total of 313 units which range in size from 230 sq ft to 577 sq ft.

Meanwhile Vanke Property (Hong Kong), a subsidiary of mainland developer China Vanke (2202), received 22 subscriptions for Le Pont in Tuen Mun. The project launched 251 apartments yesterday.

In the secondary market, half of 10 major housing estates did not record any transactions over the weekend, Centaline Property Agency reported.

Midland Realty reported eight secondary transactions in 10 major housing estates, 33.3 percent higher than last week, but the number of deals has stayed single digit for four weeks.

The suspension of the fugitive bill amendment will have a positive impact on the market and the transaction volumes will rebound after the market digests the sentiment, said Willy Liu Wai-keung, chief executive of Ricacorp Properties.

Liu added that buyers are taking a wait-and-see stance and vendors are not willing to slash prices as the market expects the Sino-US trade war to take a turn for the better by the end of the month.

In other news, a 581-sq-ft flat at Manhattan Hill in Lai Chi Kok changed hands for HK$13.28 million, or HK$22,857 per sq ft, a record high for two-bedroom units in the project.

The price was 87 percent more than the vendor paid eight years ago.