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2/22 News Roundup: K.City Received 6.6x Subscriptions for 168 Units, Le Point 2-room Unit Sold at Record High Price

Hong Kong Property | February 22, 2017

K.City Received 6.6x Subscriptions for 168 Units
K Wah has received about 1,285 subscriptions for the second round of sale of 168 units from K.City, 6.6 times over the number of available units. The sale will take place today and buyers can purchase 8 units at most. The developer will also open tender for 7 flats from the project today.

Le Point 2-room Unit Sold at Record High Price
A middle-level unit from Tseung Kwan O’s Le Point was sold at the estate’s record high price recently. The 503-square-foot two-room unit was sold at HK$7.35 million, or HK$14,612 per square foot, which is the highest cost per square foot in Le Point. The landlord purchased this flat in 2008 for HK$3.37 million.

Property Stocks Surged Expecting Good Sales
The stock prices of property stocks surged yesterday, due to the expectation of rapid growth in sales performance last year and the announcement of result in the coming weeks. Sun Hung Kai (0016) rose 2.9% to HK$111.7 while Handerson Land (0012) jumped 1.4%. HKR International (0480) added 2.9% to its stock price as well.

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