Henderson Land Development (0012) has received more than 1,280 checks for 182 flats on offer at Baker Circle Dover in Hung Hom, making the batch six times oversubscribed, although the one-month Hong Kong interbank offered rate has risen to a 19-month high.
The first round of sales of 182 homes will take place on Saturday, the developer has said.
Baker Circle Dover offers 324 flats, including 84 studios, 194 one-bedroom, 42 two-bedroom and four special units, with sizes ranging from 180 sq ft to 569 sq ft. It is also phase 1 of Baker Circle One, the first phase of the three-phase the Baker Circle redevelopment project which will provide a total of 2,800 flats.
Baker Circle's architectural design consultant is Kohn Pedersen Fox Associates of the US.
Also on course to launch sales on Saturday is Sun Hung Kai Properties's (0016) phase 1 of Silicon Hill in Tai Po.
A total of 118 flats - 110 on price lists and 8 by tender - will be put up for sale, the developer said.
The 110 homes are priced from HK$16,234 to HK$20,168 per sq ft after discounts, it said.
This came as one-month Hibor jumped to 0.38 percent yesterday, sending the actual interest rate of Hibor-based mortgages to 1.68 percent, 0.23 percentage points higher than at the beginning of this year.
Centaline Mortgage expects the one-month Hibor to gradually reach 0.6 percent to 0.7 percent after the US interest rate hike this week, which means the actual mortgage interest rate will hover at around 2 percent.
Separately, Cushman & Wakefield expects the number of home transactions to increase 48 percent quarter-on-quarter to reach 14,900 for the second quarter though this was a drop of 32 percent from a year ago.
Bernard Chang, a principal at Kohn Pedersen Fox Associates, Thomas Lam, a general manager of Henderson Land’s sales department, center, and Richard Chong, a project-in-charge at Henderson Land’s project management department.
