(Journalist Leong Yuet Kam)
The economic outlook for Hong Kong is uncertain. Property prices are in downward. With the upcoming legislation of the first-hand property vacancy tax, some developers are renting and selling the existing houses at the same time. A spokesman for Wing Tai Properties Limited points out that the company rents and sells the apartments in Le Cap of Kau To, Sha Tin, at the same time. The leasing business is in the start-up stage. They will gradually start to contact different leasing agents, and the leasing business is under negotiation. The group decides to adopt a reluctant sales strategy since it is a luxury project in a good location and with perfect design, and the sales and rentals will proceed simultaneously. According to the market source, some units have been leased. For example, a compound apartment with a usable area of 1,610 sq ft in Block 3 is rented at a monthly rent of HKD68,000, and the sq ft rent is about HKD42. Besides, an odd-numbered villa in usable of 1,939 sq ft is at a monthly rent of HKD68,000, and the sq ft rent is about HKD35. However, the spokesperson emphasizes that the leasing business is still under negotiation. The information shows that the project has a total of 69 units and has sold about 19 units since the sale started in 2018. There are about 50 units still available for rent or sale. Transactions in other luxury projects are still recorded.
La Vetta developed by Wing Tai and Manhattan in Kau To, Sha Tin sold 1 more feature tiered house. It is compound apartment Room B on the 5th and 6th floors of Block 5, with the usable area in 2,172 sq ft. It still has a platform in 409 sq ft and a rooftop in 791 sq ft. The transaction price is HKD64.8 million, with the sq ft price at HKD29,834, and the fixture date is 90 days. CITIC Pacific's The Entrance in Ma On Shan sold Room A on the 6th floor of Block 2 yesterday. It is a three-bedroom unit in a usable area of 1,185 sq ft. The transaction price is HKD19.2 million, and the sq ft price is HKD16,200.
