Sunday, June 26, 2022
Martin Hennecke

Red-hot Grand Mayfair II rolls out more flats
<p>The Grand Mayfair II in Yuen Long released another two batches with 288 flats together to be put on sale on Wednesday after selling over 90 percent of the homes in the first round of sales last Friday.</p><p>The two price lists, which comprise 59 one-bedroom units, 188 two-bedroom units, 34 three-bedroom units, and 7 flats with four bedrooms, are priced from HK$6.52 million to HK$18.47 million after discounts, or from HK$17,132 to HK$20,463 per square foot.</p><p>The 805-flat project is phase 1B of a 2,200-flat mega development that is being jointly developed by Sino Land (0083), K Wah International (0173), and China Overseas Land and Investment (0688).</p><p>They have earned over HK$3.5 billion following the sales of more than 400 homes last Friday.</p><p>In Tseung Kwan O, Kowloon Development (0034) has released the fifth price list for Manor Hill, offering 172 units starting from HK$5.04 million after discounts. The batch provides studio and one-bedroom homes ranging from 208 sq ft to 428 sq ft.</p><p>In Kai Tak, Wheelock Properties has sold at least six units at Monaco Marine, raking in HK$81.7 million.</p><p>Its Koko Hills in Lam Tin will launch sales of 96 flats today, including 80 on price lists and 16 by tender.</p><p>In Cheung Sha Wan, Grand Victoria II co-developed by Sino Land, Wheelock, and three others, will put 130 flats on the market tomorrow, including 76 on price lists and 54 via tender.</p><p>The 76 homes ranging from 278 sq ft to 807 sq ft are priced from HK$6.48 million to HK$22.66 million after discounts.</p><p>In Kowloon City, Country Garden (2007) has recorded at least 14 transactions for its Allegro, after putting 70 units up for sale.</p><p>In Tai Kok Tsui, at least 9 flats at The Quinn Square Mile - a studio unit and 8 one-bedroom units - were sold over the weekend, which brought the developer Henderson Land Development (0012) over HK$54 million in contracted sales.</p><p>New projects across the city drew buyers from the secondary market over the weekend, resulting in a 21.4 percent decline in the top 10 housing estates with half of them recording no transaction, said Centaline Property Agency.</p><p>Only 11 deals were seen over the weekend, but the number has remained in double-digit territory for the 10th week in a row, the real estate agency said.</p><p>Louis Chan Wing-kit, Asia-Pacific vice-chairman of the residential division, said developers are relatively conservative in pricing to attract buyers, which inevitably slows down second-hand transactions.</p><p>Chan added that homeowners may need to further cut their asking prices in order to compete.</p>

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