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

Hong Kong Property | November 15, 2016

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%. Meanwhile, a parking lot in Sheung Shui’s Lung Fung Garden was sold at HK$1.7 million, also setting the highest transaction price of parking space in the estate.

Cheung Kong To Offer DSD Discount For La Mansion
Cheung Kong Properties will offer another stamp duty discount for its bungalow project in Yuen Long. La Mansion released an updated price list yesterday, offering 15% double stamp duty discount for house no.2, 3, 19 and 46; and 10.5% discount for the other 6 houses. The average price of the 10 houses is HK$12,875 per square foot.

NAPA 4-unit Buyer Abandoned Purchase
The buyer of 4 NAPA units in Tuen Mun abandoned the contract and forfeited a deposit of HK$1.5 million. The buyer signed a contract to purchased 4 units and he was not required to pay the 15% double stamp duty as he is a first time buyer.

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