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Huiland attracts $11.3 billion in first six months
Jul 12, 2023
Huiland attracts $11.3 billion in first six months Hong Kong
By   Wen Wei Po
  • City News
  • New Developments
  • Real Estate
  • Housing Market
Abstract: The Hong Kong Monetary Authority (HKMA) relaxed the loan-to-value ratio for owner-occupied properties below $30 million last Friday, and developers took advantage of the situation to speed up the pace of property sales.

Wheelock Properties Vice Chairman and Managing Director Wong Kwong Yiu said yesterday that the group sold about 814 residential units in the first half of the year, cashing in more than 11.3 billion yuan, has surpassed last year's full-year 9.6 billion yuan.

 

Among them, KOKO ROSSO and KOKO MARE sold a total of 529 units and realized 4.28 billion yuan. In the second half of the group will have 4 new disk deployed for sale, a total of about 1,800 units, he emphasized that he will not split the price of the sale of property, will only stick to the market price of the sale.

 

Wong Kwong Yiu pointed out that the second half of the year, there is an opportunity to take the lead in the sale of Wan Chai Chun Yuen Street project, is an old lease project, is now preparing the sales brochure, the earliest possible debut in September, focusing on one to two rooms. Immediately after the sale of the first and second phase of the 12th phase of LOHAS Park, a total of 1,335 units. There is also Phase 1 of 19 Shing Fung Road, Kai Tak, which is a joint venture between the group's partners Henderson Land, New World and China Overseas, with a total of 361 units.

 

As for Wharf's 1 Plantation Road, The Peak, the project is scheduled for sale in the fourth quarter, and plans to sell five of the houses, with sizes ranging from 4,600 to 7,500 square feet, while the remaining houses will be reserved for long term rental collection.

 

For the HKMA to relax the loan-to-value ratio, Mr. Wong Kuan Yiu believes that the $10 million to $15 million of medium-priced flats will benefit the most, and expects the relevant transactions in the second half of the year to have a growth of 20% to 30%, and the Group plans to put up for sale a number of new properties belonging to the medium-priced flats, and it is believed that they will also benefit from it. He also pointed out that the Group will continue to implement the strategy of "rotation of goods", but will not sell properties at a fraction of the price, but will only sell properties at a discount to the market price.

 

In addition, he believes that Hong Kong's economy is fully restored to normal, the interest rate in the fourth quarter or early next year will be clear, and even the opportunity to fall, I believe that the high interest rate environment is short-lived, the second half of the property market is expected to develop steadily.

 Huiland attracts $11.3 billion in first six months

Wong Kwong Yiu continued, the group last Wednesday to 1.7 billion yuan to win the Kennedy Town, Sai Ning Street and Victoria Road, the junction of the land, is a precious sea view of Hong Kong Island, the initial plan for the development of small and medium-sized units, the investment amount of about 4 billion to 5 billion yuan.

 

On the other hand, the cumulative income of 8,384 votes, Henderson Land's Kai Tak HENLEY PARK yesterday, the second round of 82 units on sale, as the HKMA relaxation of the mortgage percentage of the first after the sale of the new property, yesterday at 5:00 p.m. in Tsim Sha Tsui, Miramar Plaza, outside of the sales office there have been a lot of prospective buyers queuing up for the waiting list to report to the venue. Sources said that 51 units were sold in the whole night and the sales rate was over 62%. This batch of 82 units, with sizes ranging from 250 to 649 square feet, covering open-plan to 3-bedroom, are priced at $5.148 million to $17.585 million.

 

As for Chinachem and MTR co-development of Ho Man Tin Station, Yu Yi - Tin Hoi sold yesterday at $12,746,600, Block 2B, 2nd Floor, Unit B, 2 rooms, area 525 square feet, foot price $24,279. According to the agent, the result of S1 school places allocation was announced yesterday morning. After the buyer learned that his son was assigned to the No.1 voluntary secondary school in Ho Man Tin, he bought the flat yesterday afternoon for the convenience of his son's schooling.

 

Other new developments, Kerry construction partnership with Shun Lee, Swire Properties and the MTR cooperation of the Wong Chuk Hang Station Island South Coast Sea Surplus Hill yesterday launched 45 units, Kerry development director and general manager of Hong Kong, Mr. Tong Yiu-chung said, the additional units range from 394 to 914 square feet, including one bedroom to three bedrooms, discounted price of $ 9.796 million to $ 28.909 million. The developer at the same time to implement this Saturday, the first round of sale of 108 units, this Friday at 3:00 p.m. cut off, divided into A1, A2 and B group sorting floor, A1 group must buy 2 to 4 units, of which at least 1 unit must be a three-bedroom or two-bedroom. Another 7 units will be put up for tender next week, all of which are 915 square feet 3-bedroom units.

 

In addition, Pan Ocean International's Hung Shui Kiu Metro I, which is located in the "Northern Metropolitan District", has been receiving good votes for the past few days, and as of last night, it has received 1,557 votes, which is 7.28 times over-registered. Mr. Kwan Pok Lam, Executive Director of Pan Ocean International Group, said that 188 units of the 1st and 2nd price list of Metro I are scheduled to be put up for sale by price list this Saturday. The offer will be closed on Thursday evening.

 

According to the introduction, the units for sale in Metro I include 66 units of one-bedroom units, 112 units of two-bedroom units, 5 units of three-bedroom units and 5 units of specialty units, with sizes ranging from 287 sq. ft. to 498 sq. ft. at discounted price of $4,492,000 to $7,144,000, and discounted price of feet from $12,688 to $15,773. According to the sales arrangement, it will be divided into A and B group to pick the floor, A group must buy 2 units, 1 of which must be a 2-bedroom unit, and B group can buy 1 unit to 2 units.

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Huiland attracts $11.3 billion in first six months
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