Lixin 210 million won the Daqiling mosquito net in Yuen Long
The Daeging Mosquito Type in Yuen Long was won by Li Xin (00488) for nearly 210 million yuan. The floor price per square foot was 4,977 yuan, which is in line with the market valuation. Compared with the Hengdi (00012) Daxie project per square meter two years ago. The land premium was 1,740 yuan, 1.9 times higher.
Located in the south of Yuen Long City Centre, the Tai Kwai Ling site is a vacant school building in the private estate estate, which is only 12,000 square feet in size and can be built on a floor area of less than 42,000 square feet. It is a small development project and The car was connected, so only four developers entered the bidding on Friday, and the response was cold.
Lixin: lack of roads, construction costs rise
The Lands Department announced yesterday that the land was acquired by Lixin Development for nearly 210 million yuan. The land price per square foot was about 4,977 yuan, which was in line with market expectations. However, the land price level has increased compared with the land premium paid by land around the land. .
For example, the neighboring is the new dish of the Daqiling land. Ling, the developer only reached a land premium agreement with the government two years ago. At that time, the land premium per square foot was 1,740 yuan, an increase of 1.9 times, and the neighboring, also held by Hengyue, was reached in 2016. The land premium agreement also has a premium of 1,830 yuan per square foot.
Pan Ruimin, senior vice president of Lixin Development, said that the higher land price is not considered to refer to the surrounding second-hand property price. It is considered that the land price accounts for the main part of the development cost.
He also pointed out that the lack of roads in the area has scared some developers. However, the Group considers that some of the new flats and the transport network are also within walking distance. The lack of roads is also believed to only slightly increase the cost of construction.
Proposed to build 105 small households with a total investment of 500 million
The Group expects that the total investment of the project will reach 500 million yuan. It is estimated that it will provide about 105 gangs, belonging to one-bedroom or two-bedroom tiered residential units. The practical area of one-bedroom units ranges from 280 square feet to 300 square feet. It ranges from 380 square feet to 400 square feet.
This time, after being awarded the URA’s Xihewan project (now Yiyi) in September 2015, it was re-invested in the land after three and a half years.
Assume that the construction cost per square foot of the project is about 6,000 yuan, taking into account the land price and water supply. The total investment of the project is about 490 million yuan, and the investment amount per square foot is as high as 10,500 yuan. In the future, the actual price of the sale will reach 15,800 yuan. Next to the neighboring new building, Shangyue•Ling has a similar price of 16,000 yuan, which is 5 years older than Shangyue. The second-hand price is 12,700 yuan, which is 24% higher.
Lin Haowen, executive director and valuation and consulting department of Knight Frank, said that the price in the land was higher than expected, reflecting that some developers were “hungry” and the supply of small and medium-sized land was insufficient, which deserved the attention of the government. There are still buildings at the site, which have to be demolished by the developers themselves. There is also a lack of access to the roads. This will increase the development cost. It is expected that the price of the project will reach $15,000 after the completion of the project.