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12/28 News Roundup: Almost 100 Units Sold During Christmas, Long Beach Prices Up for New Year's Eve

Hong Kong Property | December 28, 2016

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Almost 100 Units Sold During Christmas
The home market did well on the long Christmas weekend. At least 90 deals were recorded in the primary market, two times more than last Christmas’s 30 deals. Hang Lung’s Long Beach sold all 48 units on Christmas Eve, while transactions were also recorded in other new projects such as Ho Man Tin’s Mantin Heights, Yuen Long’s Park Yoho Venezia and Tuen Mun’s NAPA.

Long Beach Prices Up for New Year’s Eve
Hang Lung Properties has raised prices of flats for sale at Long Beach on New Year’s Eve. Those 48 units at Kowloon West have seen prices rise by 3% to 4%. The new units are sized between 560 and 863 square feet and all have harbour views. Average per square foot price stood at HK$17,714. The developer has changed the discount arrangement by putting the ceiling of discounts at 19% to 20%, down from the original 23%. The move translates into an increase of prices by 3% to 4%.

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