Star Properties' redevelopment residential project at 21 Wang Yip Street West, Yuen Long, named after Rainy Day, is expected to be put up for sale in the first quarter of this year at a reasonable price, according to the group's Chairman and Chief Executive Officer, Mr Chan Man-fai, who said the project is pending the approval of pre-sale consent for uncompleted flats.
He pointed out that Rainbows offers 335 units with a range of open-plan, one-bedroom, two-bedroom and three-bedroom units, with the standard units having a usable area of about 270 to 720 square feet and the main one-bedroom units accounting for about 42% of the development.
The key date for booking is the end of December 2023. The project is located close to Long Ping Station and is only a 2-minute walk to shopping and commercial developments in the area, including The Rainbow and Long One Plaza.
He is confident that property prices will move upwards as interest rates are showing signs of peaking due to the resumption of quarantine free customs clearance between Hong Kong and the Mainland.
Lemond International and Chun Wo Development Group jointly developed 128 WATERLOO in Ho Man Tin yesterday recorded another large transaction of a four-bedroom apartment, sold by tender on the 12th floor, room H, a four-bedroom double suite with storage space, a practical area of 1,258 square feet, the transaction price of $35,071,000, the price of about $27,878 per square foot, the transaction price again set a new high for the project's standard households.
Other end-of-completion properties are being promoted by agents with special offers. From now until 31 January, buyers of selected 3-bedroom units at Minmetals Land in Yau Tong Azure East Coast through Centaline, Midland, Ricacorp and Hong Kong Land will receive a travel voucher worth $10,000.
For the same period, the first five purchasers of any phase of the Harbour View development in South West Kowloon by Centaline Property, Sino Land, K. Wah International and Java Holdings will receive a New Year gift voucher worth $20,000, with a total value of approximately $100,000.