Author : Editor
Property market sentiment has rebounded in the wake of equity market rallies and last week's budget that had no new policy surprises.
And at least one project is attempting to fend off speculators.
The Housing Society said it was considering a five-year resale restriction at Heya Green, its first private residential development.
"If the homes are for own-use, the buyers wouldn't mind a resale restriction in addition to the special stamp duties," chairman Yeung Ka- sing told The Standard. The Sham Shui Po project will start pre-sales in April and is the first project in Hong Kong to offer priority to local residents, especially those living in the district.
Eighty percent of the 327 flats will be two- bedroom units of 570 square feet, while the rest are three-bedroom flats of 780 sq ft.
Prices may range from HK$3.42 million to HK$5.46 million, based on prevailing prices of between HK$6,000 and HK$7,000 per sq ft.
"I am sure our project is attractive and I don't want to attract speculators, too," Yeung said. The five-year resale restriction was inspired by the Sandwich Class Housing Scheme, which attracted a lot of buyers in the 1990s.
Meanwhile, secondary transactions hit the highest in 21 weekends. The 10 benchmark residential projects had 33 sales at the weekend, up from 22 a week ago, Midland Realty said. But there were no deals at Tai Koo Shing in Quarry Bay and South Horizons on Ap Lei Chau.
Midland director Andy Ho Ming-pui said: "Sales of secondary homes in Kowloon were boosted by the government's plan to develop Kowloon East as the second core business district."
As for new homes, The Coronation in West Kowloon sold nine three-to-four-bedroom flats at the weekend, a source said. Visits to show flats were up 30 percent from a week ago. So far, the developers have sold 650 flats at the project.
Chatham Gate in Hung Hom sold more than 20 flats during Saturday and Sunday. So far, 160 of 334 apartments have been offloaded.
Source : thestandard.com.hk
