Wheelock aims for mixed housing
Finance | Samantha Wong 12 Sep 2017Wheelock Properties (0200) said its Tung Tsz project in Tai Po will provide 2,705 flats including 1,005 units which can be set aside for subsidized housing.
Managing director Ricky Wong Kwong-yiu said over 1,000 units in the project can be developed as public housing units, home ownership scheme flats or "starter housing."
But the type of housing to be built in its Tai Po project will be decided by the government, he said.
The site in Tung Tsz has a total area of more than 850,000 square feet and is currently zoned as a green belt, Wong said Wheelock has applied to the Town Planning Board in May for the development of the site into a comprehensive development area to provide a mixture of private and public housing units.
In the first-hand residential market, Wheelock yesterday reportedly received about 700 subscriptions for its first batch of 130 flats at its Oasis Kai Tak project which has an average price of about HK$20,000 per square foot.
In the secondary market, a 2,190-sq- ft house at The Beverly Hills in Tai Po was sold at a loss of HK$6.6 million, sources said.
The house was sold recently for HK$22.2 million, or about $10,000 per sq ft. Back in 2011, the vendor purchased the house on Boulevard De Cascade for about HK$28.8 million.
Meanwhile, 325 buyers' stamp duty cases, involving HK$630.2 million, were recorded in August, the highest level over the past six months. The number of cases involving double stamp duty for non-residential properties was also the highest over the past six months at 2,507 cases, involving HK$794 million.
Forty-one special stamp duty cases were reported in August. The government raised the rates and extended the property holding period for charging the duties. Thirty-six cases had a holding period of more than 12 months but less than 36 months, while four cases were six to 12 months.
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