SHKP prices Wings at Sea units
Finance | Dominique Nguy 20 Sep 2017Sun Hung Kai Properties (0016) launched the first price list for 208 flats from its new project at Lohas Park - Wings at Sea, yesterday. The average discounted price per saleable square foot for the first batch of flats was about HK$12,788.
The price per ssf was about 10 percent above the secondary flats from some of the housing estates in Lohas Park. The price per ssf of those flats is also about 10 percent below the primary flats from Tseung Kwan O launched in March, which was about HK$14,000.
The discounted prices of the flats from Wings at Sea range from HK$4.30 million to HK$9.07 million.
SHKP deputy managing director Victor Lui Ting said Wings at Sea offers sea views, proximity to the MTR and high-end brand.
Lui said the company often offers discounts for the first batch of flats from its projects and believes there are room to raise prices for additional flats to be launched.
Wheelock Properties launched the residential project Monterey, which is close to Tseung Kwan O city center, in March. The average price per ssf for the first batch of flats from Monterey was about HK$14,208.
Sun Hung Kai Real Estate Agency assistant general manager Andy Chan Hon-lun said the first batch of flats of Wings at Sea offers 18 one-bedroom flats, 175 two-bedroom flats and 15 three-bedroom flats.
He said the company will assess the market reaction before deciding on the date to put the flats on sale.
Louis Chan Wing-kit, Centaline Property Agency's Asia-Pacific chief executive, said the developer might want to sell a batch of flats before the Chief Executive's policy address in October.
Meanwhile, Henderson Land (0012) launched 13 flats from its Cheung Sha Wan project - Park One, yesterday. The flats are sized between 418 ssf to 595 ssf. Discounted prices of those flats range from HK$7.97 million to HK$10.89 million.
K&K Property investment manager Tony Cheng said the company has so far sold 726 flats from its Kai Tak project - Victoria Skye, reaping about HK$7 billion, and the average price per ssf for the flats sold was about HK$20,090.
He said about 96 flats from the Kai Tak project are still unsold and the company has decided to raise prices for those flats by 5 percent at most, on October 1.
In the secondary market, New World Development (0017) sold a 1,974 ssf duplex flat from its Tsim Sha Tsui project - The Masterpiece - for HK$98.7 million or about HK$50,000 per ssf by tender.
Today's Standard
