daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments > DN Archives



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old August 16th, 2009, 07:21 AM   #41
quanghuynhchung
CENTRAL - Hong Kong
 
quanghuynhchung's Avatar
 
Join Date: Jan 2009
Location: Hong Kong
Posts: 618
Likes (Received): 8

very nice
quanghuynhchung no está en línea   Reply With Quote

Sponsored Links
Old August 17th, 2009, 01:15 PM   #42
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Cheung Kong net rises 5pc to HK$11.5b
14 August 2009
SCMP

Cheung Kong (Holdings) yesterday reported forecast-beating interim earnings, helped by better than expected results from its associate, Hutchison Whampoa.

The second-largest developer in Hong Kong by market value yesterday announced that net profit rose 5.01 per cent to HK$11.52 billion from a restated HK$10.97 billion last year. Revenue grew 17.98 per cent to HK$12.14 billion.

The results were better than expected, with analysts generally expecting profits to fall. Analysts had expected Cheung Kong's bottom line to be dented by its 49.9 per cent-owned Hutchison, which has been held back by loss-making 3G businesses, sluggish container terminal operations and the lack of any exceptional gains.

The earnings contribution from Hutchison totalled HK$2.88 billion, down 32.87 per cent from last year because the conglomerate separately reported yesterday that first-half earnings fell 32.95 per cent to HK$10.69 billion.

Nevertheless, a HK$3.28 billion fair-value gain from investment properties helped cushion the decline.

The huge property revaluation gain was mainly attributable to the completion of 1881 Heritage, a retail and hotel complex converted from the former Marine Police headquarters in Tsim Sha Tsui. The company recorded a property revaluation gain of HK$1.07 billion for the same period last year.

It did not provide figures for its underlying profit, which exclude the property revaluation and Hutchison's contribution. Its underlying profit for the same period last year was HK$5.55 billion.

The interim dividend remained unchanged at 50 HK cents per share.

Commenting on Hong Kong's property market, deputy chairman Victor Li Tzar-kuoi said he did not believe there was a property bubble.

Low interest rates and inflationary pressure had prompted more buyers to invest in brick and mortar because they lacked confidence in some investment products.

"More than 70 per cent of buyers in Le Prestige choose immediate payment, indicating they are end-users," said Mr Li, adding that this suggested the demand for property was not driven by speculators.

Le Prestige is a joint-venture project in Tseung Kwan O.

He said all of the group's property projects were profitable and Cheung Kong would increase the selling price if the projects were well received by the market.

Although the results are better than expected, Credit Suisse analyst Cusson Leung said they had not given an indication about Cheung Kong's full-year earnings. The performance of its final results hinged on the sale schedule for its project at Tai Wai railway station and whether it can obtain an occupation permit for the project and Le Prestige.

Under Hong Kong accounting standards, revenue from property sales are only recognised after a project has an occupation permit.

Shares in Cheung Kong yesterday climbed 1.95 per cent to HK$97.90.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old August 19th, 2009, 05:36 PM   #43
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

By fatshe :



__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old August 25th, 2009, 07:25 PM   #44
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

By kwk0877 from dchome :

__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 14th, 2009, 03:57 PM   #45
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

8/30









__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 18th, 2009, 02:37 PM   #46
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

By 鄧麗欣之戀 from skyscrapers.cn :



__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 18th, 2009, 02:38 PM   #47
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

By 鄧麗欣之戀 from skyscrapers.cn :



__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 25th, 2009, 09:26 AM   #48
Car L
Registered User
 
Car L's Avatar
 
Join Date: May 2005
Location: Hong Kong, San Francisco
Posts: 1,853
Likes (Received): 651



__________________
Buildings that don't get posted often (HK) Part I or here | Part II or here | Part III | Part IV | Part V
Artistic decorations inside and outside of the buildings
__________________
My flickr
Car L no está en línea   Reply With Quote
Old September 25th, 2009, 12:12 PM   #49
superchan7
EOS 40D
 
superchan7's Avatar
 
Join Date: Jan 2004
Location: San Jose, CA, USA / Hong Kong, China
Posts: 2,098
Likes (Received): 23

They look the same as The Capitol. =(
__________________
I speak English / 我講中文 / Ich spreche deutsch / 3y3 5p34k L337
superchan7 no está en línea   Reply With Quote
Old October 13th, 2009, 06:32 PM   #50
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Guidelines on misleading flat sales brochures tightened
Consumer Council says moves do not go far enough

8 October 2009
South China Morning Post

Developers will no longer be able to fool flat owners with artists' impressions of grand clubhouses and expansive green slopes that seldom materialise, under new guidelines that will prevent such features from appearing in sales brochures.

They will also be required to put nearby residential developments and unpopular facilities, such as landfill sites and cargo working areas, on location maps in their brochures.

But critics and the Consumer Council said more should done, because developers would still be allowed to use unrealistic graphics and pictures in promotional materials such as fliers and television advertisements, and purchasers would still not know what kind of common areas they were buying.

The guidelines, which are not legally binding, were announced by the Real Estate Developers Association yesterday in response to recent criticism that pictures and details in sales brochures were misleading.

Green Sense revealed in June that Cheung Kong (Holdings) had failed to show a landfill site opposite Lohas Park in Tseung Kwan O on the sales brochure's location map, while pictures of Lake Silver, a Sino Land development in Wu Kai Sha, did not alert buyers to the reality that sea views from some flats were blocked by another development.

Under the guidelines, promotional materials should be separated from sales brochures, with artists' impressions prohibited in the latter. Developers can include a one-page close-up picture showing the outer appearance or building elevation of developments, but it should be endorsed by the appointed architect.

The location map, used to show the development and limited surrounding areas, will have to show more communal facilities. A total of 34 facilities should be specified if they are near the development, compared with only 16 required by existing guidelines, issued last year. Most of the newly specified facilities to be shown on maps are not popular with residents, including crematoriums, mortuaries, slaughterhouses, bus depots, ventilation shafts, cargo working areas, petrol and LPG filling stations, sewage-treatment facilities and addiction-treatment centres.

Apart from the location map, the brochure should also include the Consumer Council's notes to buyers and a Chinese translation of the Deed of Mutual Covenant. Artists' impressions in promotional material will have to carry a disclaimer.

But the new guidelines, taking effect next month, will only apply to uncompleted residential properties.

Nan Fung Development managing director Donald Choi Wun-hing said that while the guidelines would help clarify things, his company would continue to create images for buyers' "reference", but would not include them in sales brochures.

A Consumer Council spokesman said: "This is only an enhancement measure, and more steps need to be taken in the future. We urge buyers to read the sales brochures, and they should be released earlier."

Under existing guidelines, developers are only required to give buyers sales brochures 24 hours before the flats go on sale. "That is not enough time for them to read such a thick and complicated brochure," he said.

Democratic Party lawmaker Lee Wing-tat, who proposed the changes, said the scope of location maps was unclear.

"The landfill site opposite Lohas Park is over a kilometre away from the development," he said. "Should it be shown on the map?"

Lee suggested showing facilities within a kilometre of an estate in urban areas and within two kilometres in rural areas. He also said conversations between buyers and property agents should be recorded.

Green Sense project manager Gabrielle Ho Ka-po welcomed the rules but feared that developers would not show approved, but uncompleted projects, near the estates.

Raymond Chan Yuk-ming, chairman of the Hong Kong Institute of Surveyors' public and social affairs committee, said buyers should also be informed about the common areas they paid for.

"This is an important issue which is left out of discussion," he said.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old November 5th, 2009, 04:26 PM   #51
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Cheung Kong to trim prices for flats
The Standard
Thursday, November 05, 2009

Cheung Kong (Holdings) (0001) expects to launch sales for the second phase of its Tseung Kwan O project Le Prestige this month.

The first batch of units to be offered for sale in the Le Prime second phase will be priced 2 percent lower than prevailing prices in the district's secondary market.

This is the first Cheung Kong project launch in the wake of expressions of government concern prices have risen so fast that a bubble may be developing.

Executive director Justin Chiu Kwok-hung said the developer and its joint-venture partners the MTR Corporation and Nan Fung Development expect to start selling flats at Le Prime by the end of the month once the Lands Department gives its consent for presales.

Le Prestige units are currently changing hands in the market around HK$5,700 per square foot, said Crystal Tam Kwai-ching, Tseung Kwan O sales director at Centaline Property Agency.

"Cheung Kong usually sets lower prices for the first eight to 12 flats of a project to encourage buyers," Tam said.

Francis Wong See-chung, director of Cheung Kong Real Estate, said the company may price Le Prime flats with reference to more projects in the district, and not just Le Prestige and The Capitol - which are both under the massive Lohas Park scheme.

Chief Executive Donald Tsang Yam- kuen said this week his administration will not allow property prices to run riot.

Financial Secretary John Tsang Chun-wah has pointedly warned developers the government will intervene if the market becomes unhealthy.

"Cheung Kong will be more transparent in selling homes," Chiu said.

And he thinks the government will intervene only as a last resort.

He said it is hard to tell if a bubble has been created recently, but believes "a little bubble may help the market."

Le Prime, which comprises three blocks, offers 1,416 flats ranging in size from 870 to 1,300 square feet.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old November 10th, 2009, 04:59 PM   #52
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Source : http://www.fotop.net/pennysuen/

__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old November 11th, 2009, 03:46 PM   #53
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Latest Lohas Park flats likely to top $7,000 per square foot
The Standard
Wednesday, November 11, 2009

Some of the classier flats at Le Prime - the newest phase of Lohas Park in Tseung Kwan O - can be sold for well over HK$7,000 per square foot, Cheung Kong Holdings (0001) said.

"Some real estate agents believe it is very easy for [the six uppermost levels] to be over HK$7,000 per square foot," said Francis Wong See-chung, director of Cheung Kong Real Estate.

"We find that an extremely conservative estimate which fails to reflect the real values of these homes."

The pricing of Le Prime will not be based on any Tseung Kwan O properties.

It will take into consideration properties such as Grand Promenade in Sai Wan Ho, Taikoo Shing and those atop Kowloon Station because they have similar qualities, Wong said.

He added that it is company policy now not to disclose target prices, citing calls for more restraint from developers.

But he suggested customers have been complaining about the non-disclosure policy. "If I can't afford your flats, I'll go elsewhere," Wong quoted one prospective buyer as saying.

"But if the prices are right, I will also need time to prepare the money."

Wong said he will reflect the complaints to the Estate Agents Authority.

Le Prime consists of three 59-story buildings, with a total of 1,416 three- or four-bedroom flats. It is the tallest project in Lohas Park, Wong said.

As the developer is still awaiting sales consent, it can only open its showroom next week at the earliest.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old November 11th, 2009, 05:59 PM   #54
Shezan
BANNED
 
Join Date: Jun 2007
Location: The 80s
Posts: 16,216
Likes (Received): 593

HK mark.
Shezan no está en línea   Reply With Quote
Old November 24th, 2009, 07:10 PM   #55
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

$7.2m flats in first batch at Le Prime
The Standard
Tuesday, November 24, 2009

Cheung Kong (Holdings) (0001) said a four- bedroom flat at Le Prime can cost from HK$7.2 million or HK$5,500 per square foot.

There are 295 flats of this kind, measuring 1,309 square feet each, which make up 21 percent of the second phase of Le Prestige at LOHAS Park.

Francis Wong See-chung, director of Cheung Kong Real Estate, said the developer will include these flats in the first batch for sale, which is likely to start this week.

"Flats over 1,000 sq ft in the district cost roughly HK$5,000 psf at the minimum," said Crystal Tam, a Centaline regional sales director. "The newer ones can even fetch over HK$5,500 psf."

The developer is considering giving doctors and lawyers the priority to choose from three to four levels of four-bedroom units. Wong noted it is a common practice to have specialized floors in business buildings.

Given warm market response for seaview flats, Wong said the developer will first focus on selling such units. Cheung Kong may keep flats facing the mountains until next year.

Separately, Sun Hung Kai Properties (0016) will launch its mammoth Sheung Shui project in the first half of next year.

Occupying a site of more than 1.7 million sq ft, Valais consists of two phases and will provide around 300 villas.

Sun Hung Kai Real Estate executive director Victor Lui Ting said the developer intends to sell over two years the first phase of 132 villas, measuring between 3,000 and nearly 10,000 sq ft. More than 10 are big villas by the Sheung Yue River.

Sun Hung Kai is not going to base selling prices on properties in the district.

"The group will have some Hong Kong Island properties in the future, including Mount Kellett, Shouson Hill and so on," Lui said. "These are what we will take into account while setting the prices." But he added Valais villas will not be as expensive.

According to Wong Leung-sing, Centaline Property Agency associate director for research, the most expensive villa in the New Territories registered in the first 10 months is a HK$68 million villa at St Andrew's Place Belgravia in Sheung Shui.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old November 25th, 2009, 05:29 PM   #56
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Property moves bring out crowds
The Standard
Monday, November 23, 2009

Cheung Kong (Holdings) (0001) said yesterday show flats of its Le Prime project in Tseung Kwan O attracted more than 20,000 visitors over the weekend.

The numbers reflect better sentiment in the property market after the government announced last week that two sites in Tai Po are to be auctioned off next month.

Cheung Kong is expected to release the first price list for units of Le Prime, which is the second phase of its Le Prestige development in the giant Lohas Park scheme, this week at the earliest.

Executive director Justin Chiu Kwok-hung said Cheung Kong will set up a special counter at the sales center for Le Prime homes to answer queries about presales and sale records in response to the government's measures on Friday to boost transparency over the sale of uncompleted flats.

Under the government rules, to be effective by the end of the month, developers will be required to make public transactions of uncompleted first-hand residential properties within five working days after the signing of purchase agreements.

The Real Estate Developers Association also agreed to show the price per square foot of "saleable areas" of flats on price lists, and to display floor numbering information in a more prominent manner in sales brochures on uncompleted flats.

Cheung Kong was not the only developer to benefit from the improved sentiment.

More than 15,000 potential homebuyers visited Sino Land (0083) showrooms over the weekend following its move to sell remaining f
lats at its Wu Kai Sha project Lake Silver last week.

About 30 homes were sold over the weekend at an average of HK$6,500 per square foot, according to a market source.

The two sites in Tai Po, triggered for auction under the application list system, will go under the hammer at opening bids of HK$3.604 billion each.

The sites, each have a site area of about 20,925 square meters, are expected to deliver more than 1,000 homes.

But the improved sentiment at the weekend for new homes may have come at the expense of sales at existing estates.

The secondary sector saw fewer transactions compared with last weekend.

Centaline Property Agency said that transaction numbers may have fallen because buyers expect more housing policies to come and are keeping an eye out for the Le Prime launch.

But even with these two factors some 38 homes were sold at the 10 largest housing estates over the weekend, down from 43 sales the previous weekend, according to Centaline.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old November 28th, 2009, 05:55 PM   #57
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Le Prime Commercial

__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old November 30th, 2009, 05:18 PM   #58
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Cheung Kong's Le Prime flat sales the first under stricter regulations
27 November 2009
South China Morning Post

Cheung Kong (Holdings) will be the first to offer its residential project in Tseung Kwan O for sale following the government's recently announced regulations on property sales disclosures.

The developer yesterday unveiled the price list for 33 units at Le Prime, the second phase of the Le Prestige development, which is being offered at HK$4,659 to HK$5,351 per square foot of gross floor area.

To comply with the new regulations, Cheung Kong also provided a list of prices based on the saleable area (the internal flat area plus the balcony and utility platform) that ranged from HK$6,131 to HK$7,067 per square foot. That is about 30 per cent higher than the price per square foot of gross floor area that includes common areas.

To boost transparency in launches and sales of unfinished flats, the government last week announced new rules that require developers to state clearly the price per square foot or metre of saleable area on the price lists.

Other stricter regulations require that transaction records of individual flats, including the prices and purchase dates, be made public within five working days after the sale is confirmed, instead of one month.

The new rules also state that floor numbering must be made very clear on the sales launch brochure, rather than showing it on the reference page of the sales booklet.

In yesterday's sales launch brochure, Cheung Kong also mentioned nearby structures such as landfills and a sewage treatment plant.

"Basically, buyers do not care about the new price item [based on saleable area]," said Crystal Tam, a sales director at Centaline Property Agency's Tseung Kwan O branch.

"They talk about clubhouse facilities and the living environment, rather than the price per square foot of saleable area. When all developers adopt the same practice, it will probably draw their attention."

Agents said the selling price was close to the secondary market level, with some even charging less.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old December 3rd, 2009, 09:13 AM   #59
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Deals fall as tighter credit, weaker stocks hit demand
2 December 2009
South China Morning Post

Despite upbeat expectations for the housing market over the medium term, Hong Kong deals and prices recorded month-on-month declines for the past month, property agents said.

In the secondary markets of 10 major housing estates monitored by Centaline Property Agency, a total of 591 deals were recorded in November, 17 per cent less than the transactions in October.

Buyer sentiment was dampened after the tightening of lending on luxury homes and expressions of concern from the government over prices and transparency in the luxury sector, Louis Chan Wing-kit, the managing director of Centaline's residential department, said.

Signs of slowing demand also emerged in the primary market, with Cheung Kong (Holdings) disposing of about 170 units at the latest phase of its Le Prestige development in Tseung Kwan O in the first three days of sales starting last Friday.

The slower pace of sales came after a fall in the stock market, Ricacorp Properties head of research Patrick Chow Moon-kit said.

Since the developer had sold more than 1,000 units at the project just four months ago, it was not easy to find 1,000 more buyers in the district, Chow said.

Midland Realty chief analyst Buggle Lau Ka-fai said total property transactions in the first 26 days of November lodged with the Land Registry would likely fall to 10,172 deals when the government announced the figures in the next few days. This would represent an 8.5 per cent fall from the whole month of October.

Buyers were waiting to see if the government would announce new measures to regulate the market, Lau said.

He believed total property sales would fall below 10,000 this month, the first time in nine months.

Despite falling sales volumes, prices remained firm, agents said.

Centaline's City Leading Index showed prices at the 73 level for the past seven weeks.

"I expect price levels in the overall market to remain firm over the coming months," said Benedict Ma, the associate director of CB Richard Ellis' research department.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old December 7th, 2009, 04:49 PM   #60
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,495
Likes (Received): 17807

Le Prime units bring $3.5b to Cheung Kong
The Standard
Monday, December 07, 2009

Cheung Kong (Holdings) has sold around 700 homes and taken HK$3.5 billion within 10 days of the launch of its Le Prime project.

The second phase of Le Prestige at Lohas Park averaged HK$5,000 per square foot in gross floor area and HK$6,640 psf in saleable area.

Executive director Justin Chiu Kwok-hung said three-bedroom units with mountain views had sold out.

Cheung Kong (0001) put 10 more seaview homes on the market yesterday at an average price of HK$4.7 million, or HK$5,200 psf in gross floor area.

It was a different story on buying interest elsewhere at the weekend.

Secondary market viewings in Tseung Kwan O were down about 20 percent on the previous weekend "and sales of three-bedroom units clearly dropped under pressure," said Richard Lee Chi-shing, chief executive of Hong Kong Property.

ADVERTISEMENT

Even though some sellers were prepared to cut prices by 3 percent, he added, transactions still dropped.

Metro City in Tseung Kwan O recorded one sale, though there was nothing a weekend earlier.

And according to Midland Realty there were no deals at all in the secondary market at Laguna City in Lam Tin. That was a repeat of the previous weekend.

Weekend primary homes sales in the rest of Hong Kong were modest.

Sino Land (0083) unloaded over 10 homes at Lake Silver atop Wu Kai Sha station at around HK$5,500 psf to HK$6,300 psf, according to Chris Wong Ho-chung, Centaline's director for the New Territories.

Wing Tai Asia sold four units at Seymour in Mid- Levels for between HK$24,500 and HK$33,500 psf.

Centaline sales director Raymond Li said an overseas Chinese spent more than HK$78 million to buy the most expensive unit, measuring 2,348 sq ft.

The Cullinan turned in one transaction and The Palazzo two.

There were also sales of 35 units at Cyber Domaine in Fan Ling.

And more than 30 units at Four Seasons Private Apartments Beijing, developed by mainland developer Evergreen, were sold at around 80,000 yuan (HK$90,815) per square meter on average in Hong Kong. The most expensive one fetched 94,000 yuan psm.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 07:59 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu