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12/14 News Roundup: The Zumurud Gives HK$1.68m Gifts to First Five Buyers, Second Hand Home Prices Soar

Hong Kong Property | December 14, 2016

The Zumurud Gives HK$1.68m Gifts to First Five Buyers
Cheung Kong Property Investment Director Wong Sze-chung said the company is offering first-class air tickets to Paris and five-stars hotel stays for the first five buyers of its project in Ma Tau Kok – The Zumurud. The promotion will begin on Friday until January 2. The developer will also be giving out wine and private tours to Bordeaux vineyards in the promotion. Wong said the value of the promotion is about 5 percent of the lowest priced flat – HK$34 million – from The Zumurud. Buyers could choose either the gifts or a rebate of HK$1.68 million, the total price of the gifts.

Second Hand Home Prices Soar
Buyers have been expecting the increase of interest rate by the US federal, while second hand home prices continue to go up due to shortage of supply. A 1,018-square-foot flat in Sha Tin New Town Plaza was sold at HK$15,618 per square foot, or HK$15.9 million, making it the most expensive flat in Sha Tin town centre. Meanwhile, a 401-square-foot two-room unit in Tsz Wan Shan Tsz Oi Court is sold at HK$5 million, which is the first HK$5 million deal of two-room unit in the estate.

HIBOR Rose To 0.6242%
Data from The Hong Kong Association of Banks showed one-month Hong Kong Interbank Offered Rate (HIBOR) further rose to 0.6242%, the highest level since June 2010. For a HK$1 million mortgage offered under the rate of HIBOR plus 1.35% in 25 years, the homeowner would have to pay HK$4,224 per month, HK$168 more than the previous month.

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