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KOKO ROSSO sells 134 units in second round
Mar 2, 2023
KOKO ROSSO sells 134 units in second round Hong Kong
By   Internet
  • City News
  • New Property for Sale
  • Hong Kong Property
  • State of the Housing Market
Abstract: The news is that 134 units were sold as of 11pm last night. In just 6 days, 282 units have been sold.

The first new property to be put up for sale after the Government lifted the hood order was well received, with a total of 6,638 votes received. 160 units were sold in the second round of the sale of KOKO ROSSO in Lam Tin, a subsidiary of Wheelock Properties, at 7pm last night.


Mr Wong Kwong-yiu, Vice Chairman and Managing Director of Wheelock Properties, said that 81 units had been sold in less than two hours after the opening of the sale, generating more than $650 million in cash, with a large number of buyers spending about $20 million on the connected units on the 15th floor of Block 6, Rooms C and D. A third round of sales will be announced shortly, with room for price adjustments of 10%.


Last night's sale included 21 one-bedroom (open plan kitchen) units, 93 two-bedroom units with open plan kitchens and 46 two-bedroom terraced kitchen units ranging in size from 271 to 477 square feet at a discounted price of $5,837,000 to $9,670,000, or $17,407 to $22,642 per square foot.


On the other hand, Phase 2B of SHKP's NOVO LAND in Tuen Mun goes on sale this Saturday (4) with the first round of 352 units, with tickets closing tonight.


According to SHKP's Acting General Manager, Mr Chan Han-lun, the property has received over 8,000 votes up to the previous night, which is more than 21 times the number of over-subscriptions, with 20% of the units in Group A being for large hands and three-bedroom households.


As for the first price list of 56 units of Bal Residence in Kwun Tong, a joint venture between Lai Sun and URA, tickets have been collected since last Friday.


The majority of the over-registrations were for property exchange and branch family customers, and the project will be put up for sale within a month at the earliest.


The property will be offered with a H-mortgage discount of up to 90%, with a mortgage rate as low as H+1.3% and a ceiling of P-2.5%, with a rebate of up to 2.3% and a high interest rate account with a maximum term of 30 years.


Other offers are also on offer. Star Property Chairman and Chief Executive Officer, Mr Chan Man-fai, said that the first price list for Yuen Long After Rain is scheduled to be announced next week, with no less than 67 units, covering open-plan to three-bedroom units, to be put up for sale within this month at the earliest, at a competitive "After Rain Sunshine Price".


Star Property's Managing Director of Sales and Promotion, Mr. Liu Hanwei, added that the project is positioned as a railway development and the pricing will be based on first-hand projects along the railways in Kowloon and the New Territories.


The second phase of the joint venture between Cheung Kong and SHKP, Tuen Mun Feiyang, will be launched within the month. According to Yang Guiling, Assistant Principal Manager of the Sales Department of Cheung Kong Holdings, the development may upload its sales brochure next week and there is a high chance that the sale will start within this month, and it is believed that most of the units will benefit from the new tax band.

According to the report, Feiyang Phase 2 involves two towers, providing 400 units, including one-bedroom units with open kitchen, measuring 263 to 284 square feet, accounting for 220 units; two-bedroom terraced kitchen units, measuring 462 to 485 square feet, accounting for 140 units; and three-bedroom units with storage, measuring 722 square feet, accounting for 40 units, with an estimated key date of December 2024.


As the end of the market continues to be cleared, Henderson Land's General Manager of Agency Sales (II), Mr Hon Ka Fai, said that Leo Place-One Corner is offering 88 additional units, including open-plan to two-bedroom units, with sizes ranging from 209 to 405 sq ft, at a discounted price of $4,591,700 and a discounted price of $20,626 per square foot. On Sunday (5), 15 units will be offered for sale, ranging from 209 to 405 sq ft, at a discounted price of $4,591,700 to $10,135,000, or $21,844 to $24,972 per sq ft.

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