Thursday, September 19, 2019
 
Columnist
Martin Hennecke

Nano flats are heavily oversubscribed
 
12/07/2019
 
<p>The T Plus nano flats in Tuen Mun have been 34 times oversubscribed, with the project receiving more than 12,000 subscriptions for four price lists which comprise more than 300 flats.</p><p>The project is being developed by Jiayuan International (2768) and Stan Group.</p><p>The news came as New World Development&#39;s (0017) K11 revealed that its 22-story Grade A office building - K11 Atelier on King&#39;s Road - has been granted an occupation permit four weeks earlier than expected and will be used later this year.</p><p>Meanwhile, Sun Hung Kai Properties (0016) will launch five projects in the second half of the year, said Victor Lui Ting, deputy managing director of SHKP.</p><p>Lui said the Deutsche Bank&#39;s termination of its tenancy at the International Commerce Centre would not affect the occupancy rate of the project.</p><p>Road King Infrastructure (1098) chairman Derek Zen Wei-peu said US interest rate cuts would benefit local property prices, and he expects the market to stabilize or pick up in the future.</p><p>Real estate adviser Savills also said it expects investments in the local market to be bumpy over the next three to six months.</p><p>In the secondary market, a three-bed unit at Park Yoho Venezia in Yuen Long sold for HK$11.81 million or HK$12,497 per sq ft, after HK$690,000 was slashed from the asking price. The selling price was 16.4 percent higher than what the vendor paid three years ago.</p><p>In other news, the overall Hong Kong Interbank Offered Rate saw a pullback yesterday. The one-month Hibor, which is linked to the mortgage rate, fell for a five straight trading day to 2.378 percent yesterday.</p>

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