Luxury Homes Price Up After Cooling Measures
The cooling measures started weeks ago seem to have minor impact on luxury home market. Several luxury projects even priced up after consecutive transactions. The Grampian in Kowloon Tong recorded the first transaction recently, while the developer Hanison announced that the price of Unit 2A will be priced up for 5%, from HK$60 million to HK$63 million, or HK$30,332 per square foot. On the other hand, The Zumurud updated the price list of the last 50 units, with a rise of 4.5% to 5.3%. Meanwhile, Cheung Kong also increased the price of the last 50 flats from its Hung Hom new project Stars by The Harbour for 3%.
The Long Beach Receives 4,333 Subscriptions
Hang Lung Properties is launching 62 units of its new project The Long Beach near Olympic Station for sale this Saturday, while yesterday was the last day to receive subscriptions. The 62 units from Tower 2 which are sized from 562 to 863 square feet, received about 4,333 subscriptions, 68 times more than the available flats. The discounted price and cost per square foot of this batch of units are HK$6.83 million and HK$15,228 respectively.
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