$222m sale new high for Jardine's Lookout

Business | Kevin Xu 27 May 2020

A 2,848-square-foot unit at Dukes Place on Jardine's Lookout was sold through tender for HK$222 million, or around HK$78,000 per sq ft, with the per-sq-ft price hitting a new high at the estate.

The developers - Couture Homes Properties, Grosvenor Asia Pacific and Asia Standard International - have collected about HK$1 billion after selling five units at the project this year.

Dukes Place provides 16 units, measuring between 2,846 sq ft and 6,867 sq ft.

In the secondary market, a 3,804-sq-ft luxury house on 13 Stafford Road in Kowloon Tong is available for sale for HK$220 million.

A mainland investor suffered a loss of around HK$650,000 after selling a 381-sq-ft flat at Homantin Hillside in Hung Hom for HK$7.5 million, or HK$19,685 per sq ft, after slashing HK$2 million from the initial asking price.

A 363-sq-ft flat at Metro City in Tseung Kwan O changed hands for HK$6.8 million, or HK$18,733 per sq ft, after HK$100,000 was cut from the original asking price.

A 443-sq-ft flat at Telford Gardens in Kowloon Bay fetched HK$5.78 million, or HK$13,047 per sq ft, hitting a three-month low, according to Hong Kong Property Services (Agency).

A 337-sq-ft flat at Sunshine City in Ma On Shan sold for HK$5.9 million, or HK$17,507 per sq ft, after HK$100,000 was cut from the first asking price, according to Centaline Property Agency.

In the primary market, Sun Hung Kai Properties (0016) released 155 flats in the fifth price list at Wetland Seasons Park Phase 2 in Tin Shui Wai, at an average price of HK$12,783 per sq ft after discounts, about 12 percent higher than the first price list.

The cheapest 346-sq-ft flat was priced at HK$4.13 million. SHKP will put 298 flats for sale on Saturday.

The overall Hong Kong Interbank Offered Rate saw a pullback on Tuesday. The one-month Hibor, which is linked to the mortgage rate, dropped to 0.96369 percent.

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