SHKP demands HK$7m deposit from buyers – just to book a viewing at its North Point flats
Agents say record US$2.21b Cheung Sha Wan site sale on Wednesday has already prompted owners in the area to raise sale prices by 5-10pc
Hong Kong’s property market has sparked dramatically into life again this week, with developers and individual owners moving fast to take full advantage, as prices continue rising to stratospheric levels in some cases.
Just a day after a waterfront site in the former industrial area Cheung Sha Wan was sold to a consortium of five companies from Hong Kong and the mainland for a massive HK$17.28 billion (US$2.21 billion) on Wednesday – making it the city’s most expensive residential plot ever – potential buyers of a luxury project in North Point are now being asked to stump up a whopping HK$7 million deposit (US$896,000) just to view units at the site.
SHKP certainly wants to make sure any viewers [at its Victoria Harbour development] are serious buyers
On Thursday, Sun Hung Kai Properties (SHKP) kicked off the marketing of the project in question “Victoria Harbour”, and “Cullinan West II”, which is being built above Nam Cheong Station in Kowloon’s Sham Shui Po area.
SHKP released just 10 units at Victoria Harbour for tender (highest bidders wins), while the launch price at Cullinan West II proved to be 11 per cent higher than its first phase, launched in August.
At Victoria Harbour, interested parties are required to submit a HK$7 million cashier’s order, just to book a slot in the advance appointments book. They will be refunded if they decide not to buy.