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New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit

New Projects Transactions Cooled Down During Weekend The 15% double stamp duty measure is making first time buyers more hesitant. During the past weekend, over 24 units were sold from new projects. An independent house of Yuen Long’s La Mansion, for which Cheung Kong has provided double stamp duty discount, was sold at HK$19 million. Homantin Hillside Buyer Abandoned HK$1.64m … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 21, 2016

Almost Thousand of Parking Lots Ready For Sale, Laguna City Parking Space Sold at HK$2m

Almost Thousand of Parking Lots Ready For Sale After the double stamp duty cooling measures, buyers have turned their sights on parking space market. Following Cheung Kong Properties, a few developers are ready to sell their parking lots separately, including Nan Fung’s The Visionary in Tung Chung, Wheelock’s Savannah in Tseung Kwan O, Homantin Hillside by Wing Tai and Nan … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 18, 2016

Wheelock Spent HK$6.388b For Kwun Tong Site, Cheung Kong To Sell Parking Lots in The Beaumount

Wheelock Spent HK$6.388b For Kwun Tong Site Wheelock Properties has won the first residential site in Kwun Tong offered for sale by the government since the introduction of a new stamp duty, paying a higher-than-expected HK$6.388 billion. The site is close to large housing estates such as Laguna City and Sceneway Garden. The cost per square foot is HK$7,729, over 40% … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 17, 2016

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

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 … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 16, 2016

Legal Hustles and the Top Property Scams in Hong Kong’s Surreal Estate

Somewhere in Hong Kong, a property agent has shown you a unit. He assures you that you and your partner will be happy there. You agree and as you see the location for the third and final time. You envision this as the place where you’ll spend the remainder of your life. You envision your little ones running around, family … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 15, 2016

GRAND AUSTIN Parking Lot Broke Record Price, Cheung Kong To Offer DSD Discount For La Mansion

GRAND AUSTIN Parking Lot Broke Record Price Parking lots are drawing more investment after the government launched the new stamp duty measures. A parking space in GRAND AUSTIN in Tsim Sha Tsui was sold at HK$3.43 million with lease, setting a new high record of parking space price of the estate. The rental rate of return is estimated as 2%. … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 15, 2016

First Hand Deals Reduced 73% During Weekend, Second Hand Market Recorded Only 17 Deals

First Hand Deals Reduced 73% During Weekend First hand market remains still after the government’s cooling measures launched. In the past weekend, only 35 transactions involving 14 new projects were recorded, 73% lower than the previous week, giving that no new project was launched after the government raised the double stamp duty to 15%. Second Hand Market Recorded Only 17 Deals … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 14, 2016

Cheung Kong Offers 15% Tax Salve For The Zumurud, Kingswood Villas 2-room Unit Deal Set Record

Cheung Kong Offers 15% Tax Salve For The Zumurud Cheung Kong becomes the first developer to ‘waive’ custumers’ 15% double stamp duty. From now until 15 December, non-first-time buyers purchasing units of The Zumurud – its joint project with Walter Kwok Ping-sheung in Ma Tau Kok – would be offered a 15% stamp duty discount. Kingswood Villas 2-room Unit Deal … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 11, 2016

HKR & Hysan Bought Two Tai Po Sites for HK$3.39b, Expert Expects Little Harm on Home Market by Trump's Victory

HKR & Hysan Bought Two Tai Po Sites for HK$3.39b Two neighbouring residential sites in Tai Po Lo Fai Road were awarded to a joint venture between HKR International and Hysan Development for HK$3.39 billion yesterday. The average prices per square foot of the two sites are HK$6,439 and HK$7,007, which are 16% and 7% higher than market valuation respectively. … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 10, 2016

MOUNT NICHOLSON Sold At $104,803/sqft, AVA55 Received 80 Subscriptions

MOUNT NICHOLSON Sold At $104,803/sqft The latest cooling measures have little effect on Hong Kong’s luxury property market. 4 units of Mount Nicholson at the Peak were sold yesterday, with average price at HK$92,252 per square foot. One single buyer, who is a first time buyer who have saved about HK130 million in double stamp duty, spent over HK$1.2 billion to … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 9, 2016

Property Stocks Plunged After Cooling Measures, Buyers Remain Hesitant After Curbs Hit

Property Stocks Plunged After Cooling Measures The stock prices of local property developers plunged after the government launched the cooling measures in the property market. The stock price of Sun Hung Kai (016) fell 9.88% to HK$104, making it the biggest fall among blue chips yesterday and suffering a paper loss of HK$33 billion. New World Development (017) slumped over … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 8, 2016

Double Stamp Duty Raised To 15%, Second Hand Market Cools Down After DSD Rise

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 … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 7, 2016

Two Kai Tak New Projects Ready For Sale, Site Deal Heats Up The Latitude Transactions

Two Kai Tak New Projects Ready For Sale Two new projects in Kai Tak area, One Kai Tak Phase 2 and K. City, were issued Consent to Sell yesterday, providing over 1,500 flats for the district. Both of their developers urge to start the sale within November. One Kai Tak Phase 2 will again be restricted by the “Hong Kong … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 4, 2016

Mainland Firm Got Kai Tak Site for HK$8.8 billion, AVA 55 Average Prices At HK$17,880/sqft

Mainland Firm Bought Kai Tak Site for HK$8.8 billion A mainland firm Hongkong Island Construction Properties acquired a Kai Tak residential site for HK$8.837 billion, 1.5 times over the market evaluation. The site occupies 121,224 square feet and the land price per square foot reaches HK$13,500, making it the highest record in the district. AVA 55 Average Prices At HK$17,880/sqft … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 3, 2016

Forever 21 To Quit Flagship Next August, King Lam Estate Broke Public House Price Record in NT

Forever 21 To Quit CWB Flagship Next August US fashion retailer Forever 21 is quitting from its flagship store in Causeway Bay next August, while Victoria’s Secret will be taking over the location with half of the current rent. The rent of the 6-storey shop is now HK$13.8 million, making it the most expensive shop rent in Hong Kong. Victoria’s … Continue reading "New Projects Transactions Cooled Down, Homantin Hillside Buyer Abandoned HK$1.64m Deposit"

November 2, 2016

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