Developers rush to sell flats before new curbs start
Sun Hung Kai Properties has started a soft launch of its Riva development in Yuen Long that offers about 780 units, with 25 blocks of low-density luxury apartments and 48 riverside garden houses.
As home sales start showing signs of losing steam, developers are rushing to launch projects before a law takes effect at the end of this month which is expected to curb new flat sales.
Sun Hung Kai Properties has started a soft launch of its Riva development in Yuen Long that offers about 780 units, with 25 blocks of low-density luxury apartments and 48 riverside garden houses.
Small developers ITC Properties Group and Couture Homes, a wholly owned subsidiary of Hong Kong-listed CSI Properties, on Monday announced the prices for the first batch of 30 units at Yoo Residence in Causeway Bay. The flats have been set at HK$22,233 per square foot in gross floor area terms, or HK$31,392 per square foot of saleable area.
The developers on Tuesday announced the price of the penthouse unit at HK$30,906 per square foot in terms of gross floor area, or HK$42,437 per square foot of saleable area.
Meanwhile, Glory Million Investment is launching its 14-unit single-block development at Eugene Terrace in Kowloon - with a price of HK$18,000 per square foot.
Agents said Swire Properties is preparing the sale of units at Dunbar Place in Ho Man Tin.