"The Hong Kong Property Market" Kai Tak "The Summit Phase 2" first offers 118 units, with a net entry price of HKD 6.53 million
The new project "The Sky . Phase 2" under New World Development's Kai Tak opened for pricing on the 4th. Among the first batch of 118 units, the entry price for one-bedroom units is HKD 6.5353 million, with an average discounted price per square foot of HKD 25,280, which is over 20% higher than Phase 1. Unit sizes range from 297 to 482 square feet, with price listings from HKD 7.564 million to HKD 17.448 million, and discounted selling prices from HKD 6.5353 million to HKD 15.0751 million. It is expected that the property market will continue to see both price and volume increases in the fourth quarter
According to a report from Economic Information Agency on the 5th, New World Development (00016) launched the pricing for its Kai Tak new project "The Sky . Phase 2" on Tuesday (the 4th), with the first batch involving 118 units, and the entry price for one-bedroom units set at HKD 6.5353 million. The average discounted price per square foot for the entire batch is HKD 25,280, which is over 20% higher than the average discounted price per square foot of HKD 19,668 for the first batch of Phase 1 of the project.
Among the first batch of units for sale, there are 100 one-bedroom units and 18 two-bedroom units, with usable areas ranging from 297 to 482 square feet; the price list ranges from HKD 7.564 million to HKD 17.448 million; the price per square foot ranges from HKD 25,130 to HKD 38,773; the discounted selling price ranges from HKD 6.5353 million to HKD 15.0751 million; and the discounted price per square foot ranges from HKD 21,712 to HKD 33,500.
The entry unit is Room B1 on the 5th floor of Block 1, with a usable area of 301 square feet, featuring a one-bedroom layout, and a discounted price per square foot of approximately HKD 21,712.
New World Development's Deputy Managing Director, Thunder Lei, pointed out that the pricing for this batch is based on the prices of both first-hand and second-hand units from Phase 1 of The Sky. It is expected that the interest rate reduction cycle will commence, and the property market in the fourth quarter will continue to see both price and volume increases. The project will open for public viewing starting tomorrow, and formal ticket collection will begin on Friday (the 7th). (jl)
