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

  • By
  • Asif Ghafoor
  • November 17, 2016

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% lower than the previous sold Kai Tak residential site.

Cheung Kong To Sell Parking Lots in The Beaumount
Cheung Kong Properties is selling 50 parking lots in The Beaumount for HK$1.4 to 1.6 million. Cheung Kong is offering 24-month rent subsidies, making the return over on investment reaches 6%. Parking space transactions are not restricted under the new stamp duty measures by the government, and thus buyers are not required to pay the extra 15% double stamp duty.

More Flats From New Projects On Sale Tomorrow
Though there is no new project launching after the government new cooling measure, developers are putting new units of their new projects in sale in the coming days. The Spectra in Yuen Long; Ho Man Tin’s Seven Victory Avenue, Mantin Heights and ONE HOMANTIN; AVA55 in Ma Tau Kok and Island Residence in Shau Kei Wan are offering new flats for sales from Friday onwards.

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