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6/8 News Roundup: 5 Ocean Pride Buyers Forfeited Deposit, Victoria Skye to Put 206 Units for Sale this Sunday

Hong Kong Property | June 8, 2017

5 Ocean Pride Buyers Forfeited Deposit
Forfeiture of deposits were recorded at five units from Cheung Kong Property’s Ocean Pride in Tsuen Wan, which are priced between HK$6.11 million and HK$13.4 million. A 5% deposit was paid by the buyers in the first round of sales last month, with the five units priced at a total of about HK$42.3 million. The forfeited deposits amounted to about HK$2.11 million. Meanwhile, the developer named the second phase of Ocean Pride “Ocean Supreme”. The second phase provides 1,436 two- to four-room units in 4 towers and will upload its sales brochure as soon as possible.

Victoria Skye to Put 206 Units for Sale this Sunday
K&K Property will be launching 206 units from its Kai Tak project for sale this Sunday. The company has issued the price list of 270 units from Victoria Skye after the first two round of sale. Sources said the company has received around 1,900 subscriptions for the 206 units.

JLL Predicts a 15% Rise in Home Price
JLL’s managing director Joseph Tsang said that cooling measures imposed by the Hong Kong Monetary Authority have been unable to suppress home prices, with lending curbs actually benefiting large local and mainland developers with new launches. He predicted that home price will rise 10% to 15% this year. Sales activity would be focused in the primary market over the next six months given the new mortgage-tightening measures, where the developers offer financial incentives and stamp duty rebates, Tsang added.

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