Developers are selling flats at lower-than-expected price

Sun Hung Kai Properties (SEHK:0016), sole developer of Yoho Town project which is a multi-phase residential housing and shopping malls complex adjunct to Yuen Long MTR station, said more than 8,000 people visited the show flats of its Grand Yoho project, the latest development of Yoho Town project, on the first day of public viewing on 18 Aug.

The developer released the price list of the first batch of 226 units (75 percent two-bedroom units and 25 percent one-bedroom units) at Grand Yoho with prices as low as HK$9,931 per square foot after factoring in a maximum 18.25 per cent discount, plus “sweeteners” such as 30 month interest free loan for up to 88 per cent of the flat value to buyers, the company said.

Potential buyers are lured from away from the secondary market definitely.

As of 23 Aug, the company recorded about 13,000 subscriptions, or an over-subscription of 42 times.

YOHO Town, Yuen Long, Hong Kong.

YOHO Town, Yuen Long, Hong Kong.

Aug 18, 2016

SHKP prices first Grand Yoho batch

Sun Hung Kai Properties (0016) put out the first price list of its project in Yuen Long – Grand Yoho – yesterday, comprising 226 units worth HK$1.9 billion.

The first batch is 75 percent two- bedroom units and 25 percent one- bedroom units.

The developer offers the highest discount of 18.25 percent. The lowest discounted price is HK$5.29 million for a two-bedroom unit of 514 square feet while the highest discounted price is HK$11.09 million for a 774 sq ft unit. Discounted price per salable square foot ranges from HK$9,931 to HK$14,443.

SHKP also provides five payment methods for home buyers. It first launches its YOHO FlexiPay Payment Loan for 58 designated units, mainly luring existing tenants with leases of one to two years. The buyers can pay just 8 percent down payment in this plan. In addition, the developer offers a 30 months interest-free loan, allowing the buyers to get rental rebate each quarter while repaying the loans.

Buyers only need to pay 1.5 percent of the total price each quarter, after setting off the 1 percent rental rebate. But the buyers have to provide documentary proof of their financial assets.

SHKP deputy managing director Victor Lui Ting said each home project will debut at a more attractive price so this project will have larger room for hiking the price. It plans to open the show flats tomorrow and open for sale next week. Lui also said the first-hand home market is driven by the users and he believes the property market will develop healthily. Another developer, Henderson Properties (0012), lifted the price of its home project Axis in Hung Hom by 3 percent.

It removed its special discount of 3 percent last Tuesday, which means the developer has raised the price by 6 percent in a week.

Source: The Standard

Aug 19, 2016

SHKP’s Grand Yoho lures thousands

Sun Hung Kai Properties (0016) said more than 8,000 people visited the show flats of its Grand Yoho project in Yuen Long on the first day of public viewing yesterday.

The developer unveiled on Wednesday the price list for the initial batch of 226 flats at Grand Yoho. The flats, which measure from 514 to 774 sellable square feet, are priced between HK$6.47 million and HK$13.57 million.

Allen Woo Chi-yuen, assistant general manager at Sun Hung Kai Real Estate Agency, said public response to Grand Yoho was very warm as reflected by the large crowd that turned up to view the show flats.The company might launch more Grand Yoho flats on Sunday or Monday depending on the rate of subscriptions this weekend.

Source: The Standard

Aug 24, 2016

SHKP lures more buyers

Subscriptions to Sun Hung Kai Properties’ (0016) Grand YOHO project in Yuen Long surged further yesterday ahead of subscription closing tomorrow, reflecting strong homebuyers’ interest.

As of yesterday, about 13,000 subscriptions, or an oversubscription of 42 times, were made for flats on offer for sale. Last Sunday, the oversubscription stood at 32 times.

Source: The Standard

More Related News:

  • More HK primary homes will launch in AugustAugust 11, 2015 More HK primary homes will launch in August HK developers continue to push out more primary flats despite HK second-hand home property is slowing down. Sun Hung Kai Properties (0016.HK) is launching 932 units at Century Link II, […]
  • Launch of new homes to meet demandSeptember 21, 2015 Launch of new homes to meet demand Sun Hung Kai Properties launched the last batch of Century Link II, proof of good performance in primary property market. Sun Hung Kai Properties (0016.HK)’s Century Link II, 2nd phrase […]
  • New homes price-cuts capture Hong Kong buyersDecember 1, 2015 New homes price-cuts capture Hong Kong buyers Pending second-hand homes market is sluggish. Totally 482 transactions of first-hand residential property were recorded over the last weekend in Hong Kong. Offering tax rebate, […]
  • 328 new home flats were sold in 10 hoursSeptember 4, 2015 328 new home flats were sold in 10 hours Sun Hung Kai 's Century Link II project received over 6,000 cashier's checks, 18 times over-subscription. On 3 September, Sun Hung Kai Properties (0016.HK)'s Century Link II, 2nd phrase […]