Yuen Long Daqi Ling Land valuation as low as 150 million
In the last month of the financial year, the Lands Department will have two residential land tenders. One of the small residential developments in Tai Kei Ling, Yuen Long, took the lead in the tender closing on Friday (8th). The market is cautious on the valuation of the site. The minimum is only about 150 million yuan, and the land price per floor (hereinafter referred to as the floor price) is about 3,500 yuan.
The Tai Kwai Ling site, which will be closed on Friday, was formerly a Ling Wen School which was closed in 2005. It covers an area of about 12045 square meters. The floor area of the building is about 42157 square feet. There are still buildings at the present site. Disassemble by yourself.
No car accessibility
The site is adjacent to the completed residential estates, Sheung Yue and Butterfly Tsui Fung. However, the site has various development restrictions. The developer is responsible for laying public walkways. The site may also have caves and there is no car on the site. The road is reachable, and the industry expects that these factors may have an impact on the development potential of the land and the bid of the consortium.
The measurement industry’s valuation of the site is from 150 million to 230 million yuan, and the floor price is about 3,500 to 5,500 yuan. Lin Zibin, director of the United Surveyor Bank, believes that there are many restrictions on the location and development of the site. I believe it will be reflected in the land price. However, due to the small size of the project and the small amount of funds involved, it is believed that it can attract small and medium-sized developers or independent Investors bid. Lin Zibin’s latest valuation of the site is about 150 million yuan, and the floor price is about 3,500 yuan.
Zhang Jingda, executive director of Zhongyuan Surveyors, has an estimated value of about 170 million yuan for the plot and a floor price of about 4,000 yuan. It is worried that factors such as the lack of roads in the plot will affect the attractiveness. It is estimated that the developer’s bid response is generally cold. However, it is not excluded that individual developers will attempt to “pay for goods" at a low price.