“People still like to live near the city centre because of proximity to work and [a shorter] commute.”
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A glimpse inside Hong Kong’s infamous subdivided properties
A glimpse inside Hong Kong’s infamous subdivided properties
Homebuyers do just like the New Territories as the world is cheaper, however most Hongkongers would nonetheless choose the comfort of town, so each worth and site are necessary, Lau added. “In this period, [however,] attractive pricing is more important,” he mentioned.
‘Always the first’: CK Asset’s history of foretelling property slumps
‘Always the first’: CK Asset’s history of foretelling property slumps
The cost on a typical HK$5 million mortgage over 30 years has risen by 11.5 per cent after the 5 prime charge will increase by HK$2,431 monthly to HK$23,511, in accordance with calculations by mReferral.
“New mass residential projects have to offer bigger discounts to lure buyers,” mentioned Norry Lee, senior director of tasks, technique and consultancy division, at JLL in Hong Kong.
Mortgages on unfinished homes in Hong Kong fall to 17-year low amid rising rates
Mortgages on unfinished homes in Hong Kong fall to 17-year low amid rising rates
“The Coastline II in Yau Tong is one of the examples where the prices are attractive to buyers, marking the start of a price war. We expect some developers will follow the price cuts later this year, while the others may slow down project launches.”
Any potential worth cuts are seemingly to present a slight increase to property transactions, together with these involving new and lived-in properties, automotive parks and industrial buildings, for the remainder of the yr, Midland’s Lau mentioned.
As of Thursday, 42,754 property transactions had been recorded in Hong Kong, comprising offers for 10,243 new properties and 36,974 secondary properties, with the remaining for industrial buildings and automotive parks, in accordance with information compiled by Midland.
K Wah’s profit falls by more than half amid Hong Kong’s higher interest rates
K Wah’s profit falls by more than half amid Hong Kong’s higher interest rates
“The number of new homes sold may go back to the 14,000-level this year,” Lau mentioned. “At first glance, that is a big jump, but last year was really bad. The annual transaction number of about 10,000 primary homes was much lower than the annual average of about 16,000 between 2017 and 2021.”
Other property tasks that have been on sale this weekend additionally noticed patrons snapping up numerous items.
As of 6.30pm on Sunday, Villa Garda III had offered 74, or 53 per cent, out of the 138 items put up on the market, brokers mentioned. The undertaking in Tseung Kwan O district’s Lohas Park neighbourhood, valued at HK$1.03 billion, is being developed by Sino Land, Ok Wah International and China Merchants Land.
The flats on sale included 17 one bed room, 113 two bed room and eight three-bedroom items, with areas starting from 340 to 719 sq ft.
Villa Garda III supplied varied low cost schemes, together with a 200-day Talent Payment plan, the place items are priced at a median of HK$16,308 per sq. foot after a most low cost of 14 per cent and a 4.5 per cent money rebate on the steadiness of the transaction worth. It is believed to be essentially the most enticing plan for patrons.
Hong Kong developers line up home sales at heavy discounts to clear unsold stock
Hong Kong developers line up home sales at heavy discounts to clear unsold stock
Under the low cost plan, these flats have been being offered for HK$5.77 million to HK$12.28 million, or HK$15,168 to HK$17,653 per sq. foot.
There isn’t any particular definition of expertise within the worth checklist, neither is there any requirement for the supply of diploma certificates.
Henderson Land’s The Holborn in Quarry Bay additionally offered three items. A most low cost of 21 per cent and a 6 per cent early-completion money rebate will be loved if patrons settle the acquisition worth inside 90 days after signing the preliminary settlement on the market and buy of the undertaking.
The Henley Park, one other Henderson Land undertaking, discovered yet one more purchaser after placing up on the market 18 items within the Kowloon improvement. Units have been priced between HK$7.93 million and HK$18.4 million, or HK$20,397 to HK$30,456 per sq. foot.
Other tasks have been additionally placed on sale this weekend. In Lohas Park, Manor Hill put up 12 items on the market at a median worth of HK$16,744 per sq. foot. This batch of items contains two-bedroom items with storage capability and an space of 428 sq ft. They have been placed on sale for a worth vary of HK$6.91 million to HK$7.32 million.
Uptify in Mong Kok, which supplied 21 items on Sunday, supplied a most low cost of 24 per cent, which was elevated from 14.5 per cent in early July, in accordance with Centaline Properties.
