Fo Tan flats lead brisk weekend sales

Finance | Aiden He 18 Oct 2021

The Arles in Fo Tan sold at least 116 flats yesterday and 271 on Saturday, totaling 387 of the 536 flats on offer in the first round of sales.

The developer Centralcon Properties expected 80 to 90 percent of the units would be sold over the weekend, and the fourth price list would be released soon with the second batch of flats hitting the market as soon as next Saturday.

The project provides 1,335 homes, ranging from studios to three-bedroom flats with saleable areas from 228 to 2,001 square feet.

Meanwhile, Sun Hung Kai Properties (0016) cashed in HK$352.5 million for selling the first tender of Central Peak II in Mid-Levels East yesterday with an average price of HK$95,425 per sq ft, the highest for the Central Peak series.

The 3,695 sq-ft luxury home with a total of 4 suites, has a 1,126 sq-ft garden, a 767 sq-ft roof and 290 sq-ft front courtyard and two parking spaces in the basement.

The secondary market also performed well with 11 deals recorded among Midland Realty's top 10 housing estates over the weekend.

That number was a 450 percent increase from last week when the typhoon deterred buyers from viewing homes.

Sammy Po Siu-ming, chief executive of the residential division, expects second-hand property trading volumes to be stable in the second half of the month as a number of new projects come into focus and absorb a lot of capital from the market.

This came as the Urban Renewal Authority is trying out a new way to reconstruct the city by collecting homeowners' opinions via a survey and using the feedback for community planning, said managing director Ir Wai Chi-sing in his blog.

The URA will take the lead in conducting this type of survey in the old district of Sai Wan Ho, involving about 250 buildings over 30 years old, Wai wrote.

There are several reasons for choosing this area for the pilot survey - it is easier to handle because of its relatively smaller size, it has different types of buildings, and is home to different community facilities, Wai noted, adding that the URA will send letters to the target owners to participate in the survey shortly.

The survey is expected to be completed by the end of the year and the analysis will start as soon as next year.

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