Price increase for Henderson's Fanling property
Mar 4, 2023
Price increase for Henderson's Fanling property Hong Kong
By   Internet
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Abstract: The ONE INNOVALE series in Fanling has been selling well in recent months.

Yesterday, Henderson Land raised the prices of 12 units in ONE INNOVALE-Bellevue by 1.5% to 5.5%, including 9 one-bedroom units and 3 two-bedroom units, ranging from 292 to 462 sq ft.


The highest price increase is for a one-bedroom, 325 sq ft, 11-room unit on the first floor of Block C. The price increase is 5.5% to $5,544,000 from $5,525,000.


The developer has also decided to put up a total of 29 units for sale by tender next Tuesday, of which 12 units will be put up for sale by price list. The whole batch of units will be offered at a discounted price of $4,834,000 to $7,239,100, with the entry unit being a 2-bedroom, 1-bedroom unit on the first floor of Block C, measuring 312 square feet at a discounted price of $15,396 per square foot.


Luxury properties also competed for attention. Longwood Group's Senior Director of Marketing in Hong Kong, Ms. Kwan Ching-yu, said that from now until June 30, a daily tender will be held for the sale of a 2,567 sq. ft. duplex on the ground floor of Block B and Room A on the first floor of the low block of the Providence Peak, with a 1,271 sq. ft. garden, which is expected to set a new high price for the property.


The duplex, designed by British interior designer Kelly Hoppen, is equipped with internationally renowned brands and furnishings and will cost $30 million or more.


She pointed out that 606 units had been sold in the occupied Providence Peak project, with a total of $11.3 billion in cash, at an average price of about $28,000 per square foot and a maximum price of about $41,000 per square foot. There are 61 units left in the project, including 8 duplex units and 12 special units.


As for Yuen Long Rain Queen, which is scheduled to open for sale next week and is being developed by Star Properties, the company has partnered with Ricacorp Mortgage and Meridian to offer mortgage concessions. Managing Director of Ricacorp Mortgage, Mr Wong Wing Yan, said the offer is for a maximum mortgage loan-to-value ratio of 90%, with an interest rate of H+1.3% and a ceiling of P-2.25%, which means an actual mortgage of 3.375%, and a cash rebate of up to 2.3%, with a high-interest deposit account.


On the other hand, the 30-year-old On Ying Building on Canton Road, Prince Edward, was unveiled for sale yesterday. The project offers 36 units, but most of the units have been sold in the early years.


The seller of the project is Chit Ying Development Limited, and the units are of the same size of 259 square feet, with one to two-bedroom units, each with bay windows and terrace kitchen design.


Rooms A and B on the 1st floor are partitioned into one room, each with a 719 sq ft and 782 sq ft podium, meaning that the podium area is more than twice the size of the interior. Rooms A and B on the 18th floor are two rooms, each with a 175 sq ft roof.


In terms of transactions, 21 Borrett Road in Mid-Levels was sold by Cheung Kong Property Agency for Phase 1 at $152.8 million through tender for Unit 7 on 10/F (with a car parking space) with an area of 2,316 sq ft at $65,976 per square foot.


As for Sheung Lan in Tuen Mun, a subsidiary of Kin Hao Land Group, 16 units were sold on a first-come-first-served basis yesterday, with three units sold in a single day for a total transaction amount of about $17.089 million.

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