Cheung Kong

Cheung Kong sells Tai Po studio flats for HK$1.55m

PUBLISHED : Tuesday, 05 August, 2014, 3:26am
UPDATED : Tuesday, 05 August, 2014, 9:02am

Cheung Kong yesterday put a HK$1.55 million price tag on its 177 square foot studio flats at Mont Vert in Tai Po amid new data that shows home sales in the city continue to surge to new heights.

With the myriad discounts available, such as for those making cash down payments, buyers can get the studios for 15 per cent less at HK$1.32 million, or HK$7,458 per square foot.

To buy one of the 10 studios, one must buy a three-bedroom flat, the cheapest of which is priced at HK$6.68 million.

The developer yesterday released the price list of 110 flats at Mont Vert. Forty-eight will be put on sale on Friday.

Meanwhile, data from the Land Registry yesterday showed home sales surged 68.6 per cent from a year ago to 7,792, the highest since October 2012, and 30 per cent more than June's turnover.

The figure includes private and public housing.

The total sales volume of residential units jumped 172.1 per cent year on year to HK$57.1 billion last month.

"Home sales have got a lot more active in recent months because of the pent-up demand from end-users. Many home seekers decided to come to the market after they saw property prices did not drop even after the new cooling measures in the property market," said Wong Leung-sing, an associate director of research at Centaline Property Agency.

Including residential units, shops, car parks and industrial and office units, 9,400 sale and purchase agreements were recorded in July - the highest in 17 months and 27 per cent higher than in June.

"Since there are fewer new projects coming on the market this month and the supply shortage has worsened in the secondary market, home sales will drop to about 9,000," he said.

"But the transaction amount will continue to increase, thanks to busy sales of office properties."