IMF Warns Possible Downturn in HK Property Market
The International Monetary Fund (IMF) announced its annual assessment of Hong Kong economy yesterday. It identified one of the main risks Hong Kong facing is the possible downturn of property market due to the rising interest rate, resulting in adverse effect on the local economy. IMF supported the cooling measures adapted by the government and believed that the policy framework of Hong Kong is eligible to tackle the risks.
HOS Flat in Tin Shui Wai Sold For HK$10,085 per sqft
A HOS (Home Ownership Scheme) flat in Tin Shui Wai was sold at a price over HK$10,000 per square foot. This 213-square-foot unit in Tin Lai Court was bought in HK$2.148 million, or HK$10,085 per square foot in the free market, the second highest cost per square foot in the estate. It is even higher than the average price of HK$7,000 to HK$9,000 in the district’s major estate Kingswood Villas.
Twins Peak Penthouse Prices Up 14%
Wah International updated the price list of its Tseung Kwan O project Twins Peak, with 14% rise in the price of its penthouse in Tower 1. The 1,515-square-foot unit costs HK$47.953 million or HK$31,652 per square foot, 14.3% more expensive than the original price. Meanwhile, Sun Hung Kai will launch 10 penthouses from Park Yoho Venezia in Yuen Long for sale this Sunday.
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