Sunday, August 18, 2019
Martin Hennecke

More miniature flats hit the market
The sale of 160 units of AVA 228 in Tai Nan Street, Sham Shui Po, has been launched, with the smallest one being just 129 square feet - the smallest flat in the urban area. It is also just one square foot larger than Tuen Mun's T-Plus - the smallest flat in the SAR. The living room and toilet of that flat are 60 sqft and 20 sqft respectively. There are eight units on each floor and the project is expected to be finished in December 2021. The developer, Full Well Engineering Limited, expects the project to appeal to first-home buyers and investors. Meanwhile, the Land Registry approved five pre-sale consent applications in January, with a total of 1,171 units. It includes 528 units of Mayfair By The Sea 8 in Tai Po, 148 units of The Entrance in Ma On Shan, 196 units of Poggibonsi on Lantau Island, five units of No 3 Fei Ngo Shan Road and 294 units of Artisan Garden in Ma Tau Kok. The trend in the secondary market is mixed. A 337-sq-ft two bedroom unit in the middle level of Sunshine City Tower R in Ma On Shan changed hands at HK$5.73 million or HK$17,003 per sq ft, HK$450,000 higher than the sale of a same sized unit in January. Meanwhile, a 491-sq-ft unit in the high level of The Pacifica tower 7 in Cheung Sha Wan sold at HK$8.06 million or HK$16,415 per sq ft, HK$240,000 lower than was paid for a same sized unit in January. Angela Wong Ching-yi, deputy chairman of Midland Realty (1200), believes that the current housing price adjustments can boost long-term development of the local property market and she is optimistic about the luxury property market this year. Elsewhere, Colliers International invited tenders for a three-floor property with 12 parking spots in Kowloon Tong.

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