2025-03-20 28Hse Editor
On March 19, Vanke Hong Kong’s residential project, Le Mont, located in Tai Po, held its second round of sales, offering 118 units ranging from one to four bedrooms. The discounted prices started at HK$3.37 million, with price-per-square-foot starting at HK$10,886. The project received approximately 7,868 subscriptions, representing an oversubscription of around 65 times for the 118 units on offer.
By 10 PM, 107 of the 118 units, over 90%, had been sold. Combined with the 223 units sold during the first round last Saturday, a total of 330 units were sold within four days, representing 97% of the available inventory. The developer described the sales as unprecedented, with buyers coming from along the East Rail Line and beyond. He noted that the “1 Plus 1” Payment Plan, which allows family members to purchase properties together, was especially popular among families and investors. Chow stated that additional units would be released soon to meet demand.
Centaline Property Agency reported a high turnout rate of 90% for their clients, with 60-70% being unsuccessful buyers from the first round. One client made a large purchase of two units for HK$15 million. The agency estimated rental yields at about 4%, with monthly rents ranging from HK$40 to HK$50 per square foot, making the project attractive for investors. Similarly, Midland Realty noted that around 70% of their clients were also unsuccessful buyers from the first round, with some spending HK$13 million to purchase both three-bedroom and two-bedroom units. Approximately 80% of their clients came from the New Territories, with the remaining 20% from Kowloon and Hong Kong Island.
Le Mont’s second-round prices ranged from HK$4.01 million to HK$13.58 million, or HK$12,959 to HK$18,684 per square foot. Discounted prices ranged from HK$3.37 million to HK$11.41 million, or HK$10,886 to HK$15,695 per square foot. The “1 Plus 1” Payment Plan offered additional discounts of up to HK$1.6 million for certain purchases.
Le Mont’s first phase offers a total of 403 units, with practical areas ranging from 214 to 961 square feet, including studio, one-bedroom, two-bedroom, three-bedroom, and four-bedroom layouts. The project also features 29 special units with terraces or rooftop spaces.
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