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Blue Pool Road House Sold with HK$90.54m Stamp Duty, Mount Nicholson Broke The Highest Cost Per Square Foot

Hong Kong Property | November 16, 2016

Blue Pool Road House Sold with HK$90.54 Stamp Duty
Hang Lung Properties sold a 4,571-sqaure-foot independent house from its Happy Valley project – 23-39 Blue Pool Road for HK$302 million or HK$66,069 per square foot. The house was purchased by a company and it was estimated that a 30% stamp duty – HK$90.54 million will be incurred, setting the highest amount of stamp duty per transaction since the cooling measures launched.

Mount Nicholson Broke The Highest Cost Per Square Foot
Records from the Land Registry revealed the buyers of Wheelock’s project at the Peak — Mount Nicholson. Daughters of Stanley Ho Hung-sun and his fourth wife Angela Leong On Kei, Ho Alice Chiu Yan and Ho Sabrina Chiu Yeng spent HK$646.4 million and HK$644.6 million to buy two flats respectively. The average price of the four units is HK$72,900 per square foot. Meanwhile, a buyer spent over HK$1.2 billion or HK$104,803 per square foot to purchase three units, breaking the highest price per square foot of luxury projects in Hong Kong and even Asia.

MTR Seeking Interest For Ho Man Tin Residential Site
MTR Corporation invited interested developers to submit Expressions of Interest yesterday for its residential development site at Ho Man Tin MTR station from today until next Monday. The site occupies a construction area of about 150,696 square feet and can have a maximum gross floor area of 742,716 square feet. The construction on the site is expected to be completed between 2022 to 2023 and is estimated to be able to provide 800-1000 flats. The market valuation for the site stands between HK$6.9 billion to HK$9.7 billion.

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