HONG KONG: Developers are launching new projects or rising prices at existing ones amid the hot housing market.
Cheung Kong Hutchison is to launch another Tseung Kwan O development The Beaumount II this month, offering 872 flats, mostly with two or three bedrooms. It will target those who missed sales of Hemera, a similar project in the same district.
Local homebuyers have been warmer to pricier and larger units as the impact from regulators’ stamp duty curbs wears off, aided by a bullish stock market.
Nan Fung Group lifted prices at 44 three- bedroom flats from 1,035 to 1,194 sellable square feet at The Visionary, Tung Chung by an average 9 percent. Sales start on Saturday.
Also, Wheelock Properties marked up 15 unsold flats at Kensington Hill in Sai Ying Pun by 3-4 percent, while releasing four special units.
And Wing Tai Properties raised the price for Unit D on the 26th floor of The Warren in Tai Hang from HK$19.33 million to HK$20.48 million.
On transactions, Chinachem Group finally saw the first home taken at its Kowloon Tong development Eden Gate after a launch in November.
The 1,575-sq-ft unit sold for HK$60.82 million, or HK$38,613 per sellable square foot.
