Plenty of building deals sealed

Business | Lucas Lo 5 Jun 2019

The number of agreements for sale and purchase of building units in May rose 4.5 percent month-on-month or 32.9 percent year-on-year to 10,353. That was a seven-year high, according to the Land Registry.

The value of sale and purchase deals in May rose 3.9 percent from April to HK$90.3 billion - the highest in 10 months. Among them, 8,208 were for residential units, with the total value at HK$78.4 billion.

Back on basics, New World Development (0017) plans to start selling homes in Atrium House in Yuen Long within two weeks, and it could put all the flats on the market immediately. Executive Wong Ho-yin said the project provides 313 flats with an area from 230 to 577 sq ft. One-bedroom flats account for 46 percent of the units.

The developer has sold some 620 units since the beginning of the year and collected HK$6.5 billion, and Wong believes it can sell 1,000 units by the end of this month.

For the rest of the year, the firm will focus on selling Mount Pavilia in Sai Kung and Fleur Pavilia in North Point, involving about 150 units.

Elsewhere, a 3,641 sq-ft flat in Nan Fung Group's 8 Deep Water Bay Drive sold for HK$245 million, or HK$67,200 per sq ft. And a 712-sq-ft flat in Tivoli Garden, Tsing Yi, changed hand for HK$10.2 million, or HK$14,325 per sq ft. That made it the most expensive flat in the Housing Society's Sandwich Class Housing Scheme. The owner bought it for HK$2.81 million in 2007.

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