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2/1 News Roundup: 20 First Hand Deals During New Year Holiday, 3 Island Residential Sites To Close Tender This Month

Hong Kong Property | February 1, 2017

20 First Hand Deals During New Year Holiday
During the 4-day Lunar New Year holiday, 20 transactions were recorded in the first hand market, the highest number since 2013’s Chinese New Year. 5 of them are from One Kai Tak (II). On the other hand, in 10 major housing estates, only 3 transactions were done on the first 4 days in the Year of Rooster (28 to 31 January) – 2 from Kingswood Villas in Tin Shui Wai and 1 from Caribbean Coast in Tung Chung.

3 Island Residential Sites To Close Tender This Month
Hong Kong Island will become the focus of the property market in February, as tenders for three residential sites will close this month. The sites are the MTR Corporation’s residential property at Wong Chuk Hang Station (tender closing on 27 February), a government site on Ap Lei Chau‘s Lee Nam Road (tender closing on 17 February) and a residential development project on Peel Street/Graham Street in Central from the Urban Renewal Authority (tender closing on 20 February). The three sites together are expected to be valued at more than HK$20 billion and will provide about 2,300 new flats.

The Pavilia Bay Receiving Over 700 Subscriptions
New World Development and Vanke are launching a new batch of 105 units this Friday for their joint venture in Tsuen Wan West, The Pavilia Bay. The developers have reportedly received over 700 subscriptions before the deadline at 6PM today. Three more 4-room units were sold yesterday. A buyer spent HK$43.83 million, or HK$16,043 per square foot on two units with a total size of 2,732 square feet. Meanwhile, the 105 units launching this Friday consist of 24 studios, 37 1-room units, 12 2-room units, 28 3-room units and 4 4-room units, sizing from 306 to 1,252 square feet. The discounted average price per square foot is HK$16,814, with 3% to 12% price up in the overall prices.

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