50 Kowloon flats put on the market

Business | Samantha Wong 16 May 2018

Samantha Wong

Wheelock Properties is to put 50 apartments in its Oasis Kai Tak project in Kowloon East for pre-sale on Friday, and expects the latest batch could yield a total of HK$830 million.

One of the apartments - a 1,470 square-foot home with a 458 sq-ft roof top deck - may be sold by tender, according to managing director of the group Ricky Wong Kwong-yiu.

As many as 460 of the 648 units at Oasis Kai Tak have so far been sold, for a total of HK$5 billion.

The project is expected to be completed by May next year.

Meanwhile, Sun Hung Kai Properties (0016) revealed that it will sell 78 units from its Mount Regency project in Tuen Mun on Saturday, at an average price of HK$18,668 per sq ft, or HK$15,780 after discounts.

The latest batch comprises units with sizes ranging from 304 to 454 sq ft.

In the secondary market, a 805-sq-ft home in Village Tower in Happy Valley changed hands recently at HK$16.1 million, or about HK$20,000 per sq ft.

The three-bedroom home was listed at HK$17 million, said Ricacorp Properties. The seller bought the home for HK$12.5 million in 2013, making a gross profit of HK$3.6 million.

Meanwhile, a 1,112-sq-ft apartment in Causeway Bay Mansions changed hands at HK$17.4 million, or HK$15,647 per sq ft, according to Midland Realty.

The seller bought the home for HK$16.28 in 2013, and the sale reflected a 7 percent appreciation in price.

In Quarry Bay, a 516-sq-ft home in Nan Fung Sun Chuen was sold for HK$8.42 million, or HK$16,318 per sq ft, said Centaline Property Agency.

The vendor purchased the three-bedroom apartment for only HK$161,000 in 1979, making a gross profit of HK$8.26 million.

In the New Territories, a 664-sq-ft flat at Ocean Shores in Tseung Kwan O was sold for HK$12.6 million, or HK$18,947 per sq ft.

The seller had bought the flat for HK$5.35 million in 2009.

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