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Highrises Discussions of projects under construction between 100-199m/300-649ft tall.
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Old April 13th, 2014, 05:14 PM   #41
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Quote:
Originally Posted by Munwon View Post
How tall will this be?
There are 4 towers ranging from 23-27 stories tall. Not sure how that will work with the 4's omitted, but these won't be very tall buildings. Scheduled completion in March 2015.
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Old May 18th, 2014, 04:55 PM   #42
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Old May 26th, 2014, 08:25 PM   #43
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Old May 30th, 2014, 07:00 PM   #44
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Old June 26th, 2014, 03:28 PM   #45
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Grand response spurs new pricing action
26 June 2014
The Standard

Grand Austin sold out its second batch of 85 flats within three hours yesterday _ a rush followed up immediately by 149 more being priced.

The 691-flat project by New World Development (0017) and Wheelock and Co (0020) has so far sold 290, taking in about HK$5.5 billion.

So Wheelock director Ricky Wong Kwong-yiu's aim of selling 500 this year looks good.

More than 90 percent of buyers are locals. One spent HK$58 million for two four-bedroom units, and five took more than two flats each.

Prices for the 149 are from HK$11.07 million to HK$41.63 million, or HK$17,490 to HK$28,245 per sellable square foot after a 19.5 percent discount at most. The makes the average price HK$23,257 per sellable square foot after discounts.

Luxury project Twelve Peaks from Sun Hung Kai Properties (0016) will be sold by tender next month, with details due next week. With the developer citing ``the highest'' construction costs, the 12 houses on The Peak are between 3,700 and 4,700 square feet, each with a lift and pool.

The Seafront at Castle Peak Road, another SHKP project, was this month chalked up the most expensive spread in the New Territories, priced at HK$55,889 per sellable sq ft.

Also in the New Territories at Tai Po, sales of 170 units at Mayfair by the Sea I from Sino Land (0083) start today. More than 2,000 subscriptions have been received.

CSI Properties (0497) is meanwhile shifting its focus from residential to commercial properties. This follows annual net profit to March 31 falling 9.7 percent to HK$815 million, mainly due to a reduced number of project sales.

Chairman Mico Chung Cho-yee said CSI plans to move the remaining 22 units of its yoo Residence in Causeway Bay, valued at about HK$700 million. And its Kau To Shan project is expected to be completed in the second quarter of next year.
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Old July 1st, 2014, 08:28 AM   #46
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Supply seen as key for HK’s housing fix
30 June 2014
South China Morning Post


The chief executive is urged to draft a more comprehensive land supply programme and look at ways to control construction costs

It turns out that introducing cooling measures was the easy part of the government’s ambition to tackle the city’s housing problem. At the end of his second year in office, experts say Chief Executive Leung Chun-ying needs a more comprehensive land supply programme and should consider alternatives to control construction costs to ensure home prices are contained.


“I expect a more detailed land supply plan in the coming years such as which districts will be the focus, how many units and when they will be produced,” said Vincent Cheung Kiu-cho, the national director for Greater China at property consultancy Cushman & Wakefield.

While importing labour has become a sensitive political issue, Cheung urged the government to enhance the use of precast technology to build homes in order to control rising construction costs.

Following the release of Leung’s report card on his second year, challenges that lie ahead include the recent pickup in home prices and improved buying sentiment, particularly in the primary market.

Secondary prices rebounded over the past three weeks, according to the Centa-City leading index, which tracks secondary home prices at 100 estates. The index rose 1.05 per cent week on week to 121.6 on Friday, the highest in 41 weeks.

Agents reported an increasing number of record-breaking deals in the secondary market in various districts such as Lam Tin, Sha Tin and Tin Shui Wai.

Developers have experienced a strong take-up, with Cheung Kong (Holdings) selling more than 1,500 units at its 1,717-unit City Point project in Tsuen Wan.

A consortium led by Wheelock, New World Development and MTR Corp sold 290 units at Grand Austin development at the Austin station as of Friday, while Sino Land and K Wah International sold more than 300 units in their joint venture, Mayfair By The Sea, in Tai Po.

The reawakening of the housing market came about a month after the government modified its double stamp duty provision, which was one of the measures announced by the Leung administration to cool the market to help residents upgrade their flats.

The concession means they will no longer have to pay a double stamp duty of as much as 8.5 per cent if they can sell their first home within six months of signing a formal agreement to buy the new one, rather than a provisional agreement. Buyers of pre-sale new-build flats therefore have up to 36 months to sell their first property.

“The modification sent a signal that the government would not issue more measures. Therefore, buyers’ confidence recovered,” said Cheung, who believes the recovery will not result in any significant rise in prices in view of the forthcoming supply and the measures still in place.

The government has maintained the other cooling measures introduced since Leung took office in July 2012, including higher stamp duties to increase transaction costs, an increase in land supply as well as further credit tightening measures.

The Centa-City index has dropped 4.3 per cent from its peak in March last year at 123.66, with the introduction of the last round of cooling measures and after the new first-hand sales ordinance came into effect from May last year.

Credit Suisse property analyst Joyce Kwock expects the government to focus on supply-side policies in the next 18 months and to undergo consultation on the proposed new mechanism for the land premium agreement in the second half of this year, in a move to speed up land supply.

“There is not much the government can do, except increase supply,” Kwock said.

Cheung said the chief executive needed to clearly state the timetable for future flat supply and name the districts – for example, the Northeast Territories and Lantau, to be developed – in order to ensure the annual target of 20,000 units a year could be met.

He also suggested that the government use Singapore as a reference for greater use of precast technology in the construction industry.

In March, Singapore’s Ministry of National Development announced that use of prefabricated bathroom units would be mandated for all residential government land sites, aiming to speed up completion of buildings, reduce the risk of on-site accidents as well as saving manpower.

Cheung believes large-scale usage of standardised prefabricated products in construction could cut costs by 10 to 15 per cent.

“If Singapore can introduce measures to mandate the use of prefabricated technology in bathrooms, why can’t we?” he said.

According to Rider Levett Bucknall’s Tender Price Index, average construction costs in Hong Kong have increased 43 per cent from the last market trough in the second quarter of 2009.

Looking ahead, Kwock said that while some analysts expected a substantial fall in home prices, she believed prices would stabilise at this level before negative news such as US interest rate rises affected the market.

Developers will continue to submit conservative bids on land sites in the wake of increased supply and higher development costs.

“Even when developers are looking for stable residential prices and margins, they would submit conservative tender bids for land sites, especially in light of the more visible land supply pipeline initiated by the government,” Kwock said.

To reflect the rising costs, land costs would drop at least 16 per cent, she said.

Kwock believes the recent price recovery will be short-lived as developers rush to sell to achieve higher volume instead of higher prices.

“The recovery in the secondary market is due to the pent-up demand,” she said, adding that prices would stabilise when the demand is absorbed.

Hong Kong resident William Tam shares similar views. He had no regrets selling his home in late 2011, despite prices in the past 2½ years not declining as he had predicted.

“At least it has stabilised,” said Tam, who sold his 1,300 square foot flat on Kennedy Road in November 2011 when its value rose to more than HK$18 million – about three times what he paid two decades ago. At the time, he made a bet that home prices would fall under Leung administration.

“I still have hopes that home prices will fall when more negative factors such as an interest rate rise and more supply of new flats come on to the market. That could happen next year and I can then buy a home to live in,” Tam said.
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Old July 20th, 2014, 05:36 PM   #47
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7/5











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Old July 24th, 2014, 06:40 PM   #48
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By murphychoi from dcfever :

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Old August 23rd, 2014, 10:02 AM   #49
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Old August 25th, 2014, 09:40 PM   #50
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Those last two pictures are absolutely gorgeous! I wish Hong Kong could find a way to get a new supertall/megatall cluster going. Kowloon looks flat from a supertall perspective.
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Old September 24th, 2014, 08:19 PM   #51
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Old May 6th, 2015, 02:28 PM   #52
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Old May 25th, 2015, 04:55 AM   #53
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5/1

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Old June 21st, 2015, 05:34 PM   #54
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6/20













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Old July 20th, 2015, 07:01 PM   #55
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6/27

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Old July 21st, 2015, 12:40 AM   #56
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so awesome and amazing!
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Old July 24th, 2015, 06:17 AM   #57
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Great
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Old August 9th, 2015, 08:10 AM   #58
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Luxury estate latest fail in excess lead-in-water saga
5 August 2015
The Standard Excerpt

Lead-contaminated water has been found in a luxury private estate in Kowloon Tong, prompting its management company to test all 44 flats in the project.

The owners' corporation committee at The Caldecott took samples on July 17 from a clubhouse kitchen tap, and the Savills Guardian management conducted the tests.

**********************

Hugo Kan Kwok-leung, spokesman for six plumbers' organizations, said new estates are more likely to have unstable water quality because ``substances in the pipes would be dissolving in a more unstable manner in water in the first five years of completion of the building.''

A Water Supplies Department spokesman said if excessive lead is found in water, residents should ask professionals to check their water chain system.

Another luxury private residence, The Austin in Jordan, was also exposed by local media as having excessive levels of lead in its tap water on July 18.

Lam Yi-lai of the Hong Kong Awakening Association cooperated with water quality expert Tsui Fai-po to conduct 16 water sampling tests among private housing estates and found excessive lead in The Austin. The New World Construction Company-owned private estate was only completed this year.

``I don't see a direct relationship that lead-contaminated water is less likely to be found in luxury housing estates, or that it is more likely to be found because public housing estates cost less,'' Kan said.

``No matter where construction companies source the parts used for buildings, they are supposed to follow guidelines that guarantee the quality of materials.''

**********************
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Old November 15th, 2015, 05:18 AM   #59
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Under construction by Yuichi, on Flickr
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