118 Le Mont flats set to go on sale

Staff reporter

Le Mont in Tai Po, developed by Vanke Hong Kong, will launch a second round of sales for 118 flats on Wednesday after selling nearly all the 228 flats offered in the first round on Saturday.

The developer released a fifth price list for 96 flats at an average discounted price of HK$12,411 per square foot, 1.1 percent lower than the previous list.

The batch includes 41 one-bedroom, 33 two-bedroom, 17 three-bedroom, and five special units ranging in size from 266 to 654 square feet. Discounted prices range from HK$3.45 million to HK$8.73 million or HK$10,886 to HK$15,695 per sq ft.

Among them, 40 are priced below HK$4 million after discounts, eligible for the new HK$100 stamp duty policy.

The developer is also offering a new payment plan that provides additional discounts of HK$1 million and HK$1.6 million on selected one- and two-bedroom units when buyers purchase a three- or four-bedroom unit.

Meanwhile, a luxury home at La Hacienda on The Peak is to be auctioned on Wednesday at an asking price of HK$64 million, 26 percent below its bank valuation of HK$87 million, according to Memfus Wong Auctioneers.

The 2,512-sq-ft home, which includes a large parking space for up to three cars, is priced at around HK$25,478 per sq ft.

In the secondary market, the top 10 estates tracked by Centaline Property Agency recorded 11 deals last weekend, up 57 percent from the previous week, with four estates seeing no sales.

Strong sales of new homes have driven up overall market activity, with around 1,600 new-home deals recorded so far this month, said Louis Chan Wing-kit, Asia Pacific vice chairman of the residential division at Centaline.

He expects the number to reach about 3,000 by the end of the month as developers continue to launch new projects, and that more buyers will return to the secondary market.