Sunday, September 25, 2022
 
Columnist
Martin Hennecke

Fan Ling homes nearly sold out
 
15/08/2022
 
<p>Henderson Land Development (0012) has sold nearly all the 603 homes at One Innovale-Archway in Fan Ling in nine days since launching sales, leaving only 13 units of the whole phase 1 to be tendered.</p><p>The developer said the last 88 flats on the price list for phase 1 were sold out after the sales started in two hours yesterday, resulting in a total of 590 flats purchased.</p><p>The Sunday sales received 9,952 checks, making the lot 112 times oversubscribed.</p><p>Henderson Land&#39;s general manager of the first sales department Thomas Lam Tat-man said around 30 percent of buyers in this round purchased the homes for investment.</p><p>Lam added Henderson expected the pending pre-sale consent of phase 2 will be approved as early as the end of this month.</p><p>Meanwhile, Sun Hung Kai Properties (0016) released the second price list for phase 1B of its Novo Land in Tuen Mun, providing 80 flats at an average price per square foot of HK$14,198, roughly the same as the last one.</p><p>SHKP also said it will offer 188 units of phase 1B in Novo Land for sale on Wednesday, including 180 on the released price lists and eight by tender.</p><p>Phase 1B had received over 11,000 checks by 5 pm yesterday, making the batch 60 times oversubscribed.</p><p>The secondary market was unaffected by the hot primary market as Midland Realty said 11 deals were recorded in the 10 major housing estates last weekend, one more than the previous session and marking the second weekend with no less than 10 transactions, partly boosted by the price reduction from some homeowners.</p>

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