Projects queue for sales spree

Property | Staff reporter 8 Apr 2021

Several new projects are launching this month. One is Grand Victoria III in West Kowloon developed by Wheelock Properties, Sino Land, K Wah International, Shimao and SEA Holdings. The project has just opened its first-round sales on Sunday.

The first round of 78 units is sold in two batches. With sellable area ranging from 277 to 524 square feet, the first batch of 70 units was priced between HK$8.34 million and HK$16.25 million. The price per square foot was between HK$30,094 and HK$35,095.

After deducting a 20 percent discount, the prices are between HK$6.67 million and HK$13 million, or HK$24,075 to HK$28,076 per sq ft. The discounted average price per sq ft is HK$25,868, about 5 percent higher than the first batch of the project's phase one.

Eleven transactions were recorded on the first selling day. The developer said the buyers mainly purchased units for self-use and were mostly interested in the smaller units.

The second batch of eight units will be launched for sale by tender on a daily basis up until the end of next month.

Developed by Regal Hotels International, The Queens in Sai Ying Pun opened for registration and launched the first tender for its featured households over the past week. A 428-sq-ft two-bedroom featured unit was sold at HK$19.68 million, or HK$45,981 per sq ft, on Saturday.

The project's show flats at the Ibis Hong Kong Central & Sheung Wan Hotel have been visited more than 2,000 times since last Thursday. The developer said many potential buyers, mostly young adults and families, visited the show flats during the Ching Ming and Easter holiday.

The first round of sales will be launched this weekend.

Located at 160 Queen's Road West, the project is a single residential building offering 130 units with a sellable area of between 205 and 483 sq ft.

The first batch of 50 units, with a sellable area of 242 to 431 sq ft, will be sold at a discounted average price of HK$30,299. The lowest price recorded at the project, whose move-in date is scheduled for the end of November 2022, was HK$6.88 million.

St Michel in Sha Tin, developed by Sun Hung Kai Properties, has uploaded its sales brochure and is planning to begin sales this month. The project, consisting of three 19-story buildings, will provide a total of 196 units with an area between 920 and 1,500 sq ft.

Some new properties are still waiting for presale consent.

The Arles in Fo Tan developed by Centralcon Properties will be providing 1,335 units, of which most are one to three-bedroom units.

Developed by Road King Infrastructure, South Land in Wong Chuk Hang is also awaiting presale consent. With 800 units, the project offers studio flats to four-bedroom units with areas ranging from 289 to 2,083 sq ft.

Grandor Developments' Tsing Yi project, The Met. Azure, is also preparing its sale brochure. The company expects presale consent for its 320 units to be approved and plans to launch sales as soon as next month.

The 7 Muk Tai Street Project phase one and two, developed by Henderson Land Development, is offering a total of 780 units. The first phase has been approved for presale consent and the developer says sales of the two phases will be launched together.

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May 2021

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