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6/7 News Roundup: Ocean Pride 122 Units Almost Sold Out, Tak Bo Garden Small Unit Set Record High Price

Hong Kong Property | June 7, 2017

Ocean Pride 122 Units Almost Sold Out
The sales office of Cheung Kong Property Holding’s new residential project located in Tsuen Wan appeared less crowded on Tuesday than during previous property launches, a day after a top financial official issued his strongest warning yet about escalating risks in the property market. Queues of prospective buyers started to form at the Fortune Metropolis mall in Hung Hom from 6pm, with an estimated 3,800 in line for the offer. That was noticeably fewer than the 14,000 who queued during the first launch two weeks ago. 118 out of the 122 units in the third batch of Ocean Pride were sold as of 10:30pm.

Tak Bo Garden Small Unit Set Record High Price
Small units have recently be under the spotlight of secondary home market again. High price transactions were done due to a shortage of supply of small units in the market. A 253-square-foot unit in Ngau Tau Kok’s Tak Bo Garden was sold at HK$4.1 million, or HK$16,206 per square foot – a record high price per square foot in the housing estate. On the other hand, a 431-square-foot unit in Shau Kei Wan’s Aldrich Garden was sold at HK$6.39 million or HK$14,826 per square foot, also setting a new high record in the estate.

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