Developers continue push new flats on to the market. Sun Hung Kai Properties (0016) will put on sale six units of their project in Yuen Long Twin Regency on Friday.
The discounted price of the units range from HK$3.16 million to HK$5.37 million. The units will be sold on a first-come first-served basis.
So far, the developer has offloaded around 400 units of the Twin Regency, worth HK$1.56 billion. The project has a total of 523 units available.
Wheelock (0020) published a new price list for another 108 units of Savannah, a project in Tseung Kwan O, on Tuesday and will put on sale 80 units on Saturday.
The units range from 304 to 1,365 saleable sq ft and the discounted price ranges from HK$4.32 million to HK$28.4 million.
Meanwhile, a 586 ssf unit of Alassio, a Swire Properties (1972) project in Mid-Levels, was re-sold for HK$20.39 million or HK$34,797 per ssf. The unit was originally sold for HK$19.04 million in early May but the buyer did not complete the purchase and forfeited the deposit. The resale price was HK$1.35 million or 7 percent above the previous selling price.
Centaline Property's Louis Chan Wing-kit said he expects the US Federal Reserve to raise the interest rate no more than twice this year and he believes the total hike will not exceed 0.5 percent.
He believes the low interest rate environment in Hong Kong will continue and the rate hike will have limited impact on home buyers in Hong Kong. DOMINIQUE NGUY
