SHKP's Pak Shek Kok development sells out again on the same day
May 19, 2023
SHKP's Pak Shek Kok development sells out again on the same day Hong Kong
By   Wen Wei Po 
  • City News
  • New development
  • University Hill sale
  • property sold out
Abstract: With more than 5,200 votes, SHKP's University Hill Phase 2B in Pak Shek Kok, Tai Po, went on sale at 10.15am yesterday with a price list of 185 units in the second round and another 20 units put up for tender on the same day. Market sources said that all the units on the price list were sold out within six hours.

University Hill Phases 2A and 2B have been sold out in four public sales since the end of April, with a total of 686 units sold, and together with the units sold by tender, a total of about 700 units have been sold in just 20 days, generating over $4.6 billion in cash.

 

The 185 units in yesterday's price list sale range from open-plan to three-bedroom units, with a discounted price of $3,325,500 to $9,357,500 and a price range of $13,852 to $19,350 per square foot. At the lobby of the 3rd floor of Global Trade Centre at Kowloon Station yesterday morning, a large number of buyers arrived early in the morning and queued up to report for the sale, with the queue reaching the 2nd floor at one point.

 

The buyers, Mr and Mrs Wan, said they have the opportunity to work in the Science Park in the future, and the property is close to their workplace, coupled with the completion of the MTR station nearby, which is convenient for access, so they spent about $7.5 million to buy a two-room flat for their own use.

 SHKP's Pak Shek Kok development sells out again on the same day

He also said that he had already considered the impact of the interest rate hike before entering the market and entered the market because of his need for self-occupation.

 

Midland's Director of Property Operations, Mr Cheung Chi Chuen, said there were only one to two large purchases, each involving about $12 million, for a two-bedroom flat and a one-bedroom flat with a study.

 

The overall buyers were mainly users, accounting for 70% of the total, while the remaining 30% were investors. Centaline Property Asia Pacific Vice Chairman and Chief Executive Officer of the Residential Division, Mr Chan Wing-kit, said the number of first-hand transactions this month had accumulated to over 750 as of yesterday and was expected to reach 1,500 for the whole month.

 

As for other new developments, two transactions were recorded yesterday at The Opposite House, Phase IC of Ho Man Tin Station, a joint development between Chinachem Group and MTR Corporation, attracting about $37.13 million in proceeds at a price range of $28,468 to $32,039 per square foot, while six units have been sold in the past seven days, including a sale of a featured unit at a discounted price of about $34,992 per square foot.

 

Since the commencement of sales in March, 353 units of The Opposite House Phase IB and Phase IC have been sold, generating over $6 billion in cash.

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