Special Wong Chuk Hang flats up for tender

Primary and secondary markets continue to remain robust following the removal of all housing curbs two weeks ago.

CK Asset (1113) will put up some special flats at Blue Coast atop Wong Chuk Hang MTR Station up for tender and refer to market levels of HK$40,000 per square foot.

And Uptown East, a project by Wong Sun Hing's in Kowloon Bay, has received 2,700 checks for the first 168 flats on offer, making them more than 15 times oversubscribed.

Henderson Land, meanwhile, sold all 24 flats on the top floor of Phase 1 Belgravia Place in Cheung Sha Wan. They are said to have been bought by a group for over HK$166 million, which might be the largest deal since all stamp duties were scrapped.

The Holborn in Quarry Bay also sold 33 flats.

Owners are now cancelling original deals and raising prices, especially for homes with low price tags. A flat at Tsuen Wan Centre was sold for HK$3.55 million, 11.6 percent higher than the previous asking price.

Amid all the optimism, K Wah International (0173) executive director Francis Lui Yiu-tung said property hunters should buy a home within their means and not stretch their finances too thin amid a complex global economic environment.

Lui also said the developer would wait and see how the market responds to the removal of curbs before making any decisions on plans for home sales and land bids.

K Wah hasn't revealed any sales of new homes after all stamp duties on property sales were scrapped on February 28.

Three weeks ago, K Wah said it plans to put out five projects for sale this year, including KT Marina 1 in Kai Tak, a collaborative effort with Wheelock Properties and China Overseas Land & Investment (0688).

In other news, Henderson Land Development (0012) has named phase five of a new project in Mong Kok as Gateway - Square Mile, offering 234 flats.