More Kai Tak home prices released

K&K Property launched the fourth price list for its Kai Tak project Victoria Skye, priced from HK$6.15 million to HK$68.88 million, or HK$22,047 to HK$43,979 per square foot.

Samantha Wong

Monday, June 05, 2017

K&K Property launched the fourth price list for its Kai Tak project Victoria Skye, priced from HK$6.15 million to HK$68.88 million, or HK$22,047 to HK$43,979 per square foot.

The latest batch comprises 270 units with sizes ranging from 266 to 1,858 sq ft. The project, with a total of 822 flats in six towers, has seen 497 flats sold so far, said Tony Cheng, K&K Property investment manager.

Cheung Kong Property (1113) will launch the final batch of sales at its Ocean Pride project next to Tsuen Wan West Station tomorrow, at an average per sq ft price of HK$17,500. Its project will provide 970 flats of between 370 and 1,149 ssq in the first phase.

Meanwhile, managing director of AA Property Auctioneers Tsang Kit-chun said first-hand properties with high-ratio mortgages offered by developers will be most likely to be at risk of foreclosures if home prices plunge.

In the secondary market, Midland Realty reported only four transactions over the weekend at the 10 major housing estates that it tracks, the lowest since the first week of February.

Deals were recorded at Taikoo Shing and Kornhill in Quarry Bay, Mei Foo Sun Chuen in Lai Chi Kok and Kingswood Villas in Tin Shui Wai.

Midland said that with more financial incentives being offered at new projects, landlords of second-hand properties have tended to halt sales for the moment.

Centaline Property recorded six deals over the weekend at the major estates that it tracks, the fourth consecutive week that the agency reported a single-digit number of transactions.

The launch of new projects has diverted purchasing power from the secondary market to the primary market, said Louis Chan Wing-kit, Centaline Property Asia-Pacific residential chief executive.