New homes in Hong Kong continued to remain in demand following the removal of all stamp duties a little over a month ago, with CK Asset (1113) collecting 24,000 checks for its Blue Coast project at The Southside in Wong Chuk Hang.
Wheelock Properties and Henderson Land (0012) meanwhile revealed they had notched up home sales worth HK$9.1 billion and HK$8.3 billion respectively so far this year.
The 24,000 checks received for Blue Coast near Wong Chuk Hang MTR station made the first batch of 442 flats nearly 56 times oversubscribed.
The developer will launch sales for the first batch tomorrow and may hike prices by as much as 10 percent for some flats on future price lists.
CK Asset’s chief sales manager William Kwok Tze-wai said that even if the prices are hiked by 5 to 10 percent, the company would still be at the losing end.
Prices for the first list for 138 units were HK$21,968 per square foot on average after discounts, the lowest among all completed projects in the neighborhood, while prices for third price list were up to 1.7 percent higher than the first list.
Kwok said demand was dominated by local buyers, with mainlanders accounted for about 30 percent of interested buyers.
The four-bedroom flats on higher floors may be put up for sale by tender in the second round of sales.
Meanwhile, Henderson Land and Wheelock Properties have fared very well in the primary market for first quarter of the year.
Henderson Land has earned more than HK$8.3 billion this year and ranks first in terms of deals with 1,227 transactions.
Wheelock Properties meanwhile achieved the most revenue with sales of nearly HK$9.1 billion from 815 transactions.
In other news, the Knightsbridge in Kai Tak, developed by Henderson Land (0012) and other five companies, has sold 19 flats and raked in HK$760 million since the removal of all property curbs on February 28.
And Wetland Seasons Bay phase 3 in Tin Shui Wai has put another batch of 52 flats on the market, with the cheapest priced at HK$3.9 million.
Hong Kong United Times丨香港聯合時報丨HKUT 