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Old July 5th, 2010, 07:31 PM   #121
hkskyline
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Hermitage sales cool as rival appears
The Standard
Monday, July 05, 2010

Sino Land (0083) sold nearly 85 percent of its latest batch of Hermitage units yesterday.

But the sale of the 152 flats went slower than expected, especially when compared with the first two batches launched in the past two weeks.

The first batch of 231 flats in the Tai Kok Tsui property sold out within four hours on June 26, with another 130 selling within the hour on Thursday.

The sales have brought in more than HK$6 billion in the 964-unit residential project.

"The market response to our project is still very good, as we quickly sold more than 100 flats within the first hour," sales and marketing general manager Salenda Lau said of the third batch.

Buyers mainly opted for smaller units at the project yesterday, and with about 30 units remaining unsold.

Most of these are three- or four-bedroom flats or those on higher levels. All one- and two-bedroom flats are sold out, the firm said. "Buyers may have some specific choices on the units, while the prices of other unsold flats may be beyond their budgets," Ricacorp Properties sales agent Justin Wan said.

Sino Land may temporarily halt the launch of any more Hermitage flats.

"We will discuss with our partners on deciding whether to launch more flats during this week," Lau said.

She does not expect sales of The Hermitage to be affected by Sun Hung Kai Properties' (0016) Lime Stardom in the same district, as "they are two different projects that attract different customers."

SHKP said earlier it will launch Lime Stardom this Saturday at the soonest, with the price list to be released mid-week.

More than 2,500 potential buyers visited Lime Stardom when show flats were opened on Saturday.

The minimum entry price at the property is estimated to reach HK$10,000 per square foot.
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Old July 12th, 2010, 11:33 AM   #122
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Strong demand for flats spurs release
The Standard
Monday, July 12, 2010

Sun Hung Kai Properties (0016) and Sino Land (0083) are releasing more flats this week after brisk sales at their projects in Tai Kok Tsui over the weekend.

As of last night, SHKP sold 330 homes at Lime Stardom - 300 apartments were snapped up on Saturday, the first day the homes went on the market.

The developer reaped around HK$1.54 billion after almost 90 percent of the homes in the 377-unit were sold.

Today, SHKP will distribute the first price list for its Ap Lei Chau residential project - Larvotto. Flats will be offered for sale this weekend.

The first batch will consist of at least 50 homes, according to Sun Hung Kai Real Estate Agency executive director Victor Lui Ting.

Sino Land is selling another 51 apartments at The Hermitage tomorrow. More than 610 of the 964 flats in the project were bought as of yesterday, including 90 over the weekend.


The latest batch includes a 1,476 square foot apartment on the 72th floor of Tower 6. The home commands a price of HK$36.98 million or HK$25,060 per square foot.

The average selling price for other flats in the new batch is HK$11,871 psf, up 1.6 percent from the previous lot.


Prices range from HK$3.98 million for a 376-sq ft apartment to HK$28.97 million for a 1,882 sq ft home.

That is between HK$9,299 and HK$15,394 on a per-square-foot basis, according to the price list.

A spokesperson for Sino Land said the batch comprises more large units and is expected to attract more investors and mainland buyers.

Meanwhile, there were 90 secondary market home sales in the top 10 projects over the weekend, Midland Realty statistics showed.

The figure was the second highest since November 2007, after the 93 transactions in the previous weekend.

The data indicated secondary home transactions remained active, as more new flats were launched recently, the agency added.
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Old July 13th, 2010, 03:17 AM   #123
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72nd huh... here we go again
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Old July 19th, 2010, 05:04 PM   #124
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Two projects draw swords
The Standard
Monday, July 19, 2010

Two leading developers go head-to-head this week to take advantage of renewed appetite for new homes.

Sun Hung Kai Properties (0016) is selling another 100 flats at Larvotto in Ap Lei Chau and Sino Land (0083) will offer 50 at The Hermitage in Tai Kok Tsui.

SHKP released the price list for 50 Larvotto units yesterday. The homes sized about 1,400 square feet each and averaging HK$15,028 per square foot are in Tower 5 of the project SHKP built together with Kerry Properties (0683) and Paliburg Holdings (0617).

They are 2 percent dearer than the 50 apartments - including two special homes averaging HK$24,750 psf - whose price list was announced on Saturday. Ninety-two other homes were snapped up just hours after they were put on the market on Saturday.

Sun Hung Kai Real Estate Agency executive director Victor Lui Ting said the developers collected nearly HK$4 billion from the flats.

Two special units were bought by a mainlander and a local yesterday for a total of over HK$100 million.

Twenty percent of all Larvotto buyers so far are mainlanders.


Twenty percent of the homes sold so far were bought by investors, said senior sales and marketing manager Andy Chan. He said most investors were seeking long-term rental returns, which are expected to reach HK$50 psf.

Boosted by Larvotto's sales, homeowners at nearby Residence Bel-Air raised their asking prices by 5 to 30 percent, while other potential sellers withdrew their units, said Ricacorp assistant sales director Cathy Chiu Pui-ching.

One potential seller bumped up the asking price for a 2,400 sq ft home by 13 percent to HK$43 million.

Sino Land's latest batch of flats to go on the market at The Hermitage on Wednesday average HK$13,073 psf. They include the first 1,088 sq ft homes in Tower 8 costing from HK$10,024 psf.

Sino Land has sold about 90 percent of the 762 available homes in the project.

SHKP's sales tally at Lime Stardom rose to 371 after eight more units were sold on Saturday. Six special homes are still awaiting buyers.

SHKP also sold four apartments at Aria in Ngau Chi Wan, three at The Latitude in San Po Kong and eight at Yoho Midtown in Yuen Long, agents said.
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Old July 26th, 2010, 04:26 PM   #125
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7/25

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Old July 28th, 2010, 11:34 AM   #126
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Buildings that don't get posted often (HK) Part I or here | Part II or here | Part III | Part IV | Part V
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Old July 29th, 2010, 06:12 AM   #127
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Oh .. the lower floor balconies are a surprise. Wished they made it uniform with the rest of the building
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Old July 31st, 2010, 05:16 PM   #128
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By nikenike3384 from a Hong Kong discussion forum :

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Old August 3rd, 2010, 06:08 PM   #129
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Small flats, big prices, bigger disappointment
High-end prices for small flats spell disappointment

30 July 2010
South China Morning Post

Middle-income earners hoping that government exhortations to developers to build more smaller, affordable flats will bear fruit are in for a disappointment.

While many such flats are small, their prices are not, ranging from under HK$3 million to nearly HK$8 million and with mortgage repayments that can eat up as much as 80 per cent of the median household income.

The cheapest home the Post could find among small new flats released for sale this year costs HK$2.5 million and offers saleable space of just 270 square feet - smaller than many hotel rooms. At the top of the range is a flat with 370 sq ft for HK$7.8 million.

"You have to go into debt for your entire life for a tiny living space. What kind of life are we facing?" asked Paul Yip Siu-fai, a professor who specialises in population and mental health issues at the University of Hong Kong.

While smaller flats cost less than bigger ones, their prices per square foot are at the upper end of the market, ranging from HK$8,000 to HK$21,000 in terms of saleable area and HK$6,000 to HK$15,000 in terms of gross floor area.

"The flats are small but expensive. This is unhealthy," Democratic Party legislator Lee Wing-tat said.

Since Chief Executive Donald Tsang Yam-kuen used his policy address in October to urge developers to build more small and medium-sized flats, government officials have said they will liaise with developers, including the Urban Renewal Authority and the MTR Corporation, to increase the supply of such homes.

Transport and Housing Bureau figures released last week show that 58 per cent of the 61,000 private flats which will become available in the next four years will be small to medium-sized. The Rating and Valuation Department defines a small flat as one of up to 430 sq ft and a medium- sized flat as being up to 750 sq ft.

At least eight developments which have come on the market in the past six months have included flats in these two categories, but they are not cheap.

The cheapest flat we found -at HK$2.5 million for 270 sq ft - is in the Lime Stardom development in Tai Kok Tsui, a project co-developed by the Urban Renewal Authority and Sun Hung Kai Properties.

The HK$7.8 million, 370 sq ft flat - among the most expensive to have gone on sale recently - is in Island Crest, another project the authority co-developed with Kerry Properties.

In between are flats of 301 sq ft, dubbed studios, that are for sale in The Hermitage in Tai Kok Tsui for HK$3.9 million to HK$4.7 million.

If a buyer took out a 20-year mortgage for 70 per cent of the value of the Lime Stardom flat at an interest rate of 2 per cent, the monthly repayments would be around HK$9,000. For a mortgage on the same terms for a flat priced over HK$4 million, the owner would have to pay more than HK$15,000 a month, close to the median monthly household income of HK$18,000. And monthly repayments on a loan for the HK$7.8 million flat would be HK$28,000.

In April, when prices in some large estates passed their 1997 peak, Secretary for Transport and Housing Eva Cheng highlighted the supply of small to medium-sized flats in a bid to address public concern about increasing flat prices.

In February, Financial Secretary John Tsang Chun-wah said in his budget that the government would, for the first time, require developers tendering for a site in Long Ping to build smaller flats. It would also liaise with the MTR and Urban Renewal Authority to increase the supply of smaller flats.

The authority, which is committed to building smaller flats in a Ma Tau Wai project, now says it will reduce the size of flats at Yu Lok Lane, Sheung Wan, to less than 500 sq ft.

Yip, the population academic and a government adviser on policy, said studies showed rising demand for housing from people in their twenties and thirties but the small flats available to them were too pricey.

"The increasing number of university students queuing for public flats is a bad sign," he said. "They are simply giving up hope of moving into a private flat."

Housing Authority figures show the number of single people under 30 waiting for public flats has increased by 60 per cent in the past four years, from 13,400 in 2006 to 21,300 last year.

"We are facing two extremes. Those who cannot afford luxurious apartments will have to live in public flats," Yip said.

Law Chi-kwong, a social sciences professor at the University of Hong Kong, said: "Government policy should not seek to shrink the living space of its people. It does not match with Hongkongers' expectations."
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Old August 4th, 2010, 09:41 AM   #130
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That's an interesting balcony....totally does not fit in though.
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Old August 7th, 2010, 05:05 AM   #131
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By jumboeagle from skyscrapers.cn :







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Old August 8th, 2010, 05:59 PM   #132
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8/8

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Old August 9th, 2010, 01:39 PM   #133
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@balconies: What??
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Old August 23rd, 2010, 08:54 PM   #134
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8/21



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Old August 29th, 2010, 05:17 PM   #135
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8/28





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Old September 1st, 2010, 10:30 AM   #136
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blends in well with the public estates...

and that's telling you something...
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Old September 2nd, 2010, 08:03 AM   #137
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Quote:
Originally Posted by spicytimothy View Post
blends in well with the public estates...

and that's telling you something...
The base actually looks European though!
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Old September 5th, 2010, 02:35 PM   #138
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9/5






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Old September 6th, 2010, 03:48 AM   #139
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Quote:
Originally Posted by hkskyline View Post
By nikenike3384 from a Hong Kong discussion forum :

stunning pic
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Old September 13th, 2010, 09:23 PM   #140
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Property deals at 31-month high
3 September 2010
The Standard

Following on from strong luxury home sales in July, property registrations last month hit a 31-month high of 16,946.

Totaling HK$80.2 billion, commitments for deals on homes surged 32.8 percent. That was the highest level since November 2007, data from the Land Registry shows.

Properties that include private and public housing units, shops and parking lots are normally registered the month after they are sold.

Weaker market sentiment resulting from a new wave of official curbs in mid-August will be reflected in the registration figures for September, according to property agencies.

``The number of registrations may drop by nearly 40 percent to around 10,000,'' said Midland Realty chief analyst Buggle Lau Ka- fai. Hong Kong Property chief executive Richard Lee Chi-shing agreed.

Fifty major residential projects last month produced 2,026 deals, Ricacorp Properties noted. That was down 39 percent on July's 3,296.

The agency also said HK$33.9 billion worth of luxury homes were registered last month _ the highest since the Asian financial crisis in 1997.

Larvotto in Ap Lei Chau, a project by Sun Hung Kai Properties (0016), had the lion's share of primary home registrations, with transactions reaching HK$11.7 billion.

Second was The Hermitage from Sino Land (0083) in Tai Kok Tsui with HK$1.58 billion.

Total home mortgage loans for completed homes shrank by 6 percent to 13,576 due to new property measures, with Hongkong and Shanghai Banking Corp in the lead with a 22.2 percent market share, said mReferral.

Centaline Mortgage Broker said the figure topped 10,000 for 15th month in a row.

Amid the boom, the number of licensed realtors hit a record 30,067, up 372 from July, the Estates Agency Authority revealed.
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