Harbour Glory Pricing at HK$30,400/SqFt Cheung Kong Property said yesterday it will soon announce the sales arrangement of its new residential project in North Point - Harbour Glory. The developer released its first price list for 76 units at the project on Monday, with the average discounted price per saleable square foot reaching HK$30,400. The flats range in size from 432 to...

Nan Fung Won Kai Tak Commercial Site for HK$24.6b Nan Fung Development has won a commercial site in Kai Tak for HK$24.6 billion, smashing the record set by the Murray Road site in Central just two weeks ago. Henderson Land paid $23.2 billion, or HK$50,065 per square foot, for the former Murray Road car park in Central. Nan Fung bought...

Vibe Centro Gives Higher Priority for Multi-unit Buyers Poly Property will put on sale 108 flats from Vibe Centro on Sunday. The developer will first give higher priority for multi-unit buyers to purchase the flats so as to attract more investors. Buyers who would like to purchase three or more units could choose flats first, while the number of purchased flats is unlimited....

Double Stamp Duty Raised To 15% The government has raised the stamp duty on property transactions for non first-time buyers to 15%, effective November 5. This double stamp duty (DSD) only applied on individuals, corporate and overseas non-first-time buyers, charging 1.5% to 8.5% tax depending on the price of the property. The government claimed that this will help people who...

Home price rise in June slows down Hong Kong’s residential property prices, already the world’s highest based on square footage, rose in June for the 15th straight month to a record, but at a slower pace. The monthly home price index, which represents movements in the second-hand property market, rose 0.69% to 336.1 in June, compared with 333.8 in May, according...

20 First Hand Deals During New Year Holiday During the 4-day Lunar New Year holiday, 20 transactions were recorded in the first hand market, the highest number since 2013’s Chinese New Year. 5 of them are from One Kai Tak (II). On the other hand, in 10 major housing estates, only 3 transactions were done on the first 4 days...

Metro City & Dawning Views Carparks Set Record Prices Carparks in Tseung Kwan O's Metro City and Fanling's Dawning Views transacted in all-time high prices yesterday. A parking space in Metro City Phase 2 was sold at HK$1.2 million, 11% higher than the original record in HK$1.08 million. Meanwhile, two parking lots in Dawning Views were both sold at HK$1.28 million, 6.7% more...

City One Home Prices Polarized After Cooling Measures Two weeks after the government launched the new cooling measures, second hand home prices seem to be polarized, as some home owners urged to sell their flats while small units tend to be sold in higher prices. A 451-square-foot three-room unit in City One Shatin is sold at HK$5.75 million or HK$12,749 per...

URA Makes Aggressive Purchase Offer The Urban Renewal Authority will issue an acquisition offer of HK$15,383 per square foot to property owners who will be affected by its three proposed redevelopment projects in Kowloon City. The offer is the highest that it has made in its redevelopment projects. The three proposed redevelopments are the Bailey Street and Wing Kwong Street...

Spacious' View: Tai Po residential site awarded at the low end of market valuation - in contrast to the two previous land sales with a higher market expected prices. Manhattan Group won Tai Po residential site for HK$323m A residential site on Yat Yiu Avenue in Tai Po was awarded yesterday to Manifold Ltd, a company associated with Hong Kong-based Manhattan Group, for...

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