Second Home Price Expects to Rise 3-5%
Secondary home price is ascending due to a drop of supply and the growing bargaining power of homeowners. Centaline Property expects a 3% to 5% rise in home price in the third quarter, while the transaction volume will decrease by about 20%. Meanwhile, a 722-square-foot three-room unit in Tuen Mun Century Gateway was sold at HK$12.68 million, or HK$17,562 per square foot – the highest cost per square foot in the second hand market of the estate. The transaction is done in form of ‘company share transfer’ so the buyer does not have to pay the extra stamp duty.
Park Yoho Genova to Announce Price Next Week
Sun Hung Kai is planning to upload the sales brochure in the coming few days, and launch the first price list from its Park Yoho Genova project in Yuen Long next week. The project will provide 683 units in 8 residential towers, including 27 251-square-foot studio flats. It comprises studio flats to four-bedroom units, with sizes ranging from 229 to 1,174 square feet.