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4/25 News Roundup: Kam Sheung Road MTR Site Receives 35 Bids, Mongkok HOS Flat Made Price Record at HK$8.818m
Hong Kong Property | April 25, 2017
Kam Sheung Road MTR Site Receives 35 Bids
35 expressions of interest were received for the MTR Corp Ltd’s development site at Kam Sheung Road Station, the largest number for a West Rail Line project. Local bidders include Wheelock and Co, New World Development, and Wang On Group, along with some mainland developers including China Vanke Co and China Resources Land. The total area of the residential site is 449,000 square feet, with a maximum gross floor area of 1.237 million square feet, to provide at least 1,652 flats, with the project expected to be completed in 2025.
Mongkok HOS Flat Made Price Record at HK$8.818m
A three-bedroom unit in Mong Kok’s Charming Garden was sold at HK$8.818 million, making it the most expensive House Ownership Scheme (HOS) flat in Hong Kong. The cost of this 592-square-foot unit is HK$14,895. The transaction price is 5% higher than the previous record made last month by another HOS flat in Quarry Bay’s Kornhill Garden.
Parc Inverness Prices Up 21% for Second Price List
Chinachem Group released its second price list for 46 flats at its Kowloon Tong project, Parc Inverness. The prices range from about HK$12.3 million to HK$66.2 million. The project will offer discounts of 3% and 4.25%, meaning a new price range of HK$11.4 million to HK$61.5 million, or HK$19,268 to HK$31,884 per square foot. The average discounted price is HK$26,346 per square foot, about 21% higher than the first price list. It will provide a total of 129 flats and 5 independent houses, with saleable areas from 509 to 1,979 square feet, and 3,452 to 4,380 square feet.
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