137 flats at Le Mont's second phase heavily oversubscribed

Staff reporter

Vanke Hong Kong's Le Mont phase 2 in Tai Po had received about 7,900 subscriptions for 137 flats in the first price list as of yesterday evening, making them more than 57 times oversubscribed.

Phase 2 comprises 682 flats with areas spanning 246 square feet to 797 sq ft.

The 137 flats in the first price list have an average price of HK$12,018 per sq ft after discounts.

They range from studios to three-bedrooms, with prices from HK$2.67 million to HK$9.91 million or HK$10,303 to HK$13,701 per sq ft after discounts.

Fifty-eight of them are priced below HK$4 million after discounts, making them eligible for the new HK$100 stamp duty scheme.

The prices are in line with the latest price list for phase 1, the developer said.

However, compared to the first price list of phase 1, launched on March 6 at an average discounted price of HK$11,036 per sq ft, the average price in phase 2's first price list is around 8.9 percent higher.

Over the weekend, Vanke Hong Kong sold two special flats in phase 1 via tender. The units sold for HK$8.45 million and HK$9.28 million, or HK$16,132 and HK$13,748 per sq ft, respectively, with the former setting a new project record.

Meanwhile, the first price list for Miami Quay II in Kai Tak is expected to be unveiled shortly. Jointly developed by Wheelock Properties, Henderson Land Development (0012), New World Development (0017) and Empire Group, Miami Quay II offers 571 flats.

In Kowloon Bay, Uptown East, developed by Wong Sun Hing Group, has unveiled its fifth price list, featuring 98 flats. The average discounted price per sq ft is HK$16,651, representing a 2 percent increase compared to the previous list.

In Aberdeen, Emperor International's (0163) Southsky recorded three deals yesterday, generating over HK$15.02 million.

In the secondary market, the top 10 housing estates recorded eight transactions over the weekend, three fewer than the previous week, Centaline Property Agency said.