According to Mr. Wong, 412 units were sold at Azure East Coast for a total of about $3.6 billion, accounting for about 60% of the 688 units in the development, at an average selling price of about $20,100 per square foot.
The remaining 276 units are currently for sale, ranging from open-plan, two to four-bedroom units and eight 2,000-square-foot units with special features.
Looking ahead to next year, he expects the property market to develop steadily.
In response to the interest rate hike cycle in Hong Kong, Azure East Coast is offering buyers a "Buy Low Interest Rate, High Maturity Mortgage Offer" with a mortgage rate as low as H+1.3% for the full term, capped at P-2.5%, which means a cap rate as low as 3.125%, a cash rebate of up to 2% and a maximum term of 30 years, as well as a special high deposit account.
In addition, Wheelock Properties Managing Director Wong Kwong-yiu said yesterday that the group's total sales for the year to date exceeded $9.5 billion, including 585 residential units.
With the government's renewed relaxation of local and inbound quarantine measures, it will benefit Hong Kong's economic activities, especially the tourism and related consumer markets, speeding up economic recovery and driving the property market atmosphere, which is expected to have a positive effect on the property market next year.
Mr Yeung Chung-wing, Director of Marketing and Planning of Mid-Continent Land, said that two transactions were recorded yesterday, including Flat A on 38th floor of Block 2 and Flat H on 38th floor of Block 2, at $8.25 million and $6.89 million respectively, with a sale price of $25,384 and $26,602 per square foot.
It is understood that the two units were purchased by the same buyer, who was interested in the project's proximity to Fo Tan MTR station and the extremely short lifespan of the property, and therefore purchased two units as a long-term investment.
The project has so far sold 869 units, representing approximately 70% of the available units, and has generated approximately $8.8 billion in cash.
