Brisk sales continue at Novo Land

Sun Hung Kai Properties (0016) sold 172 of 189 units at Novo Land phase 2B in Tuen Mun in the third batch yesterday.

This round of sales includes 52 one-bedroom flats, 116 two-bedroom flats and 21 three-bedroom flats, with an area of 282 to 678 square feet.

The discounted prices range from HK$4.29 million to HK$9.48 million, or HK$13,476 to HK$15,893 per square foot.

The price list of 189 units gathered a total of 9,703 checks, resulting in an oversubscription of 50 times. A single buyer was able to acquire a one-bedroom unit worth HK$4.6 million after subscribing nine times for a flat at Novo Land.

A customer bought a two-bedroom unit and a three-bedroom unit for over HK$16 million, a record-breaking transaction in the last three batches.

Victor Lui Ting, the deputy managing director of SHKP, said that Novo Land has sold 690 apartments in just nine days, resulting in more than HK$4 billion in cash. In the past eight months, they have sold a total of 2,238 apartments and generated over HK$13.7 billion.

Lui said there was a possibility of releasing Novo Land phase 2A for sale this month.

Wheelock Properties is set to release Koko Hills phase 3B in Lam Tin for sale as early as this month.

Phase 3B offers 444 units, most of them small flats. About 60 percent have harbor views.

In One on top of Ho Man Tin MTR Station, co-developed by Chinachem and MTR Corporation (0066),will release its first price list for phase 1B this week.

The first batch will include at least 50 flats, covering one to three-bedroom units.

On the other hand, when homebuyers flocked to the primary market this weekend, the secondary market experienced a decline in transactions.

Centaline Property said the 10 major housing estates registered only 10 transactions over the weekend, marking a 41 percent decrease from the previous week and hitting a 12-week low. Three estates recorded zero transactions: Taikoo Shing in Quarry Bay, Metro City in Tseung Kwan O and Caribbean Coast in Tung Chung.