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

Hong Kong Property | November 4, 2016

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 property for Hong Kong residents” policy and only available for sale to local permanent residents.

Kai Tak Site Deal Heats Up The Latitude Transactions
The sale of Kai Tak residential site on Wednesday energizes the district’s second-hand market. A one-room unit in The Latitude was sold at HK$6.95 million (HK$15,618 per square foot) yesterday, breaking the price record of one-room unit in this housing estate. Meanwhile, a few sellers marked up the price of their flats after the Kai Tak site deal.

Alto Residences Received 2,525 Subscriptions
Alto Residences ended subscription for its second batch of 100 units yesterday. The developer claimed that 2,525 subscriptions have been received, 24 times over the quota. The second batch of flats will be sold tomorrow.

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