The market expects that the development of infrastructure in the northern metropolitan area will be accelerated, coupled with the cooperation of railroad and Hong Kong-Shenzhen exchanges, the property potential in the area is excellent. Now, Fanling, located in the core of the northern metropolitan area, has thousands of large-scale new projects on the stage, which will surely become the focus of the property market in the second half of 2022.
The developer's area has six adjacent parcels of land with a huge total GFA of 4.4 million square feet. These six projects will become iconic large-scale residential communities in the area.
The first of these, Site A, is the first project in the new Fanling North development. It consists of five residential towers offering a total of approximately 1,600 residential units. Check the information. The address of the project is 8 Ma Shi Road.
The first price list of the latest three phases was released on October 21, offering 113 units at a discounted average price of $14,088, the flattest phase in the same series.
The open-plan three-bedroom apartments range from 186 to 683 square feet in usable area. There are 13 open-plan units, 69 one-bedroom units, 26 two-bedroom units and 5 three-bedroom units. Full price list price 2,971,000 yuan - 10,127,000 yuan, single price list unit price 14,438 yuan - 16,559 yuan, the highest discount 7%, discounted price 2,763,000 yuan - 9,418,000 yuan, the actual unit price 13,428 yuan - 15,400 yuan.
Among them, the flattest open-plan house with a discounted entrance fee of only $2,763,000 is expected to be the new house with the lowest entrance fee in 2022.
The flattest open-plan is 5 rooms on the 1st floor of Block E with 186 square feet of usable area. With a discounted entrance fee of only $2,763,000, the selling price is $2,962,000 or approximately $200,000 or 6.7% lower than the discounted price of the Phase I open house (226 feet).
As for the second phase of the project, the open-entry unit with a usable area of 221 sq. ft. Made, the discounted price is $3,068,000.
The developer's first price list is described as quite forgiving at 2% below the expected price. The price is expected to attract the attention of the market. Registration for public subscription will be accepted on October 22, and the model units will then be open to the public for viewing. The sale will start in October at the earliest.
Compared with the first batch of 123 units launched in the first phase at the end of July of the same year, the discounted average price is RMB 14,168 and the discounted entry price for open-plan units is RMB 2,962,000. Subsequently, the second phase of the project was launched in mid-September with a discounted price of RMB 3,068,000 for open-plan move-in units. The first batch of discounted average price of 14,398 yuan, 1.6% higher than the first batch of the project's average price of 14,168 yuan.
In terms of transportation, there are several minibus routes on the Long Yue Tau section of Sha Tau Kok Road between Tui Mou Ling Station and Ha Tun. There is also a bus route on Ma Shi Road between Sheung Shui, Ta Kwu Ling and Sha Tau Kok, passing through Fanling Swimming Pool (Sun Yuen Road), Fanling Station, Luen Wo Hui and many other places.
At the same time, the developer will be responsible for building a pedestrian bridge connecting adjacent housing estates, which will be open to the public 24 hours a day. Some of the nearby buildings, including Travelodge and Yee Fung, are equipped with shopping malls, restaurants and supermarkets.
In fact, the Fanling North project is well served by transportation facilities and the transportation network system in New Territories North will be mainly by rail. At present, it only takes 35 minutes to reach MTR Hung Hom Station from MTR Tin Fan Station or MTR Sheung Shui Station via MTR East Rail Line.
From the MTR Sheung Shui Station to Shenzhen, the station directly to Lok Ma Chau or Lo Wu; take the Sha Tau Kok Express Line to reach Sha Tau Kok and the mainland Liantang or Yantian District area. The planning of the MTR North Link will be completed in two phases, and set up four additional stations to connect to the East-West Railway. When the whole line is open to traffic, the railroad system will connect the entire New Territories.
In terms of landscape, it is expected that many of the project's units will enjoy the distant hills and countryside to the north; to the south, the units focus on the urban landscape of the area.
In fact, the Northern Metro Area covers 30,000 hectares and uses innovation and technology as the economic engine to create a new international innovation and technology hub. The Hong Kong-Shenzhen Science Park in the Lok Ma Chau Loop, to be developed by the governments of Shenzhen and Hong Kong, is an important infrastructure for Hong Kong's high-tech industry, with a focus on high-tech R&D, higher education and cultural and creative industry development.
With a total area three times larger than the Hong Kong Science Park, it is the largest platform for scientific creation in Hong Kong. It is expected to be completed in phases starting from 2024.
As for the other five major projects in the same sector, they will also follow the successive launches. The whole project is planned like a new city in scale and layout, linking up with the whole northern metropolitan area and the Hong Kong-Shenzhen Science, Technology and Innovation Cooperation Zone.
In his 2022 Policy Address, Chief Executive Lee said that the current government would press ahead with the development of the Northern Metropolitan Region. A number of large-scale development projects have been launched in the region, which will increase the number of projects at different stages, speed up, improve efficiency and quality, and greatly shorten the time from "raw land" to "ready land" for large-scale projects, from the past ten years.
At the same time, we will continue to promote the construction of other railroads in the "Northern Metropolitan Area" and plan a number of highlight facilities that will drive development and improve the quality of life, including cultural facilities, colleges and universities, large sports facilities, hospital networks, government facilities, etc.
Government offices located in the core business district without specific geographic requirements, such as nearly 40% of the floor space of the Queensway Government Offices, will be relocated to the northern metropolitan area to spur regional development and free up land in the core business district.
If this is the case, it will significantly increase the demand for housing in the northern metro area, raising the potential value of investment in properties in the area.