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Chun Wo To Release Tiniest Flat in Town, Local Home Prices Hit One Year High

Hong Kong Property | December 1, 2016

Chun Wo To Release Tiniest Flat in Town
Chun Wo Property Development Holdings, a unit of Asia Allied Infrastructure Holdings, is building the city’s tiniest flat. Inspired by the concept of student quarters, the company’s soon-to-be released project, TPlus, in Tuen Mun includes studio flats with sizes ranging from 128 square feet, the smallest in Hong Kong and even smaller than a standard parking space (134.55 square feet). 80% of the 356-unit in TPlus are studio flats, sizing from 128 square feet to 178 square feet. The rest are sized between 358 square feet and 763 square feet.

Local Home Prices Hit One Year High
Local home prices has risen for 7 consecutive months since April, reaching this year’s peak. According to the data released by the Rating and Valuation Department yesterday, the monthly price index for private homes stood at 303.8 in October, 0.75 per cent below the peak in September last year. The figure was 0.8 percent lower from the peak level of 306.1 recorded in September last year. But the data has not yet reflected the effect of the new cooling measures.

October Mortgage Rose 6.7%
Hong Kong Monetary Authority said the total mortgage in October rose 6.7% from September to HK$34.3 billion. Due to the vibrant launch of more than 10 new projects last month, first hand mortgage increased 16.5% to HK$7.7 billion from September.

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