With the relaxation of the loan-to-value ratio by the Hong Kong Monetary Authority (HKMA), the "tartar units" of new properties have become hot commodities. Tung Chung East Point, a subsidiary of SHKP (016) and completed in 2016, has launched 5 units of tartar fixed-price flats last week and sold out, the developer will launch another 7 units for sale on this Friday (14th), with discounts starting from RMB 5.74 million, and the price of some of the flats will be increased by up to 47%.

The above 7 units of East Point tart fixed price, unit usable area of 380 to 644 square feet, 1 to 3 rooms, although pricing increase of 13 to 47%, but the average price of discounted feet of about $13,800, and the second-hand price of the estate is similar. According to Centaline Real Estate data, the current average second-hand price of East Point is $13,699, reflecting that the selling price is very close to the market.

The developer only offers one payment method (300-day payment plan) to enjoy a maximum discount of 10%, and if the buyer closes the deal within 120 days in advance, he will enjoy a 4% rebate on the property price, which will be deducted from the balance of the property price.

The highest rate of increase is for Unit 6 on Level 3 of Block 6A, with a usable area of 483 sq ft and a 2-bedroom plus a storeroom partition, which is newly priced at $7,714,600, 47% more expensive than the launch price of $5,263,200 in January 2015, after deduction of the rebate. After deducting the rebate, the latest discounted price of this unit is around $6,665,000 and the discounted foot price is around $13,800,000. The unit was sold in January 2015 for $4,973,700 at $10,298, but the transaction was terminated on the 7th of this month.

The most affordable unit sold this time is Flat 5, 11/F, Block 2A, with a usable area of 380 sq ft, 1 room partition, discounted price of about $5,738,000 after deducting the rebate and foot price of about $15,100,000.

The most expensive unit is a 2-room flat on the 27th floor of Block 1B, with a usable area of 644 sq ft and a 3-room suite, discounted price of around $8.82 million after rebate, foot price of around $13.7 million. This unit was sold in September 2015 for $8,329,500, but the buyer has canceled the transaction in October 2017.

East Point launched 5 units of Tart Fixed Price last week, which have all been sold out, realizing nearly $40 million in cash. Including Flat 05 on the 7th floor of Block 5A sold for $6,839,500, with a usable area of 469 sq ft, 2 room partition and a price of $14,583 per sq ft. The unit was sold for $4,929,200 in July 2015, but the buyer left the market at the end of June this year, and the transaction price was more than $1.91 million or 39% higher than 8 years ago.