The Government has pushed 5 plots to 1850 mate this quarter. The valuation is over 30 billion.
the Government will launch five residential sites in the district (July to September), which will be located at Wing Fai Road, Sheung Wan Road, Tai Wan Estate, Lantau Island District 4B (in relation to 2 sites) is expected to supply 1,850 private residential units. The market estimates that the total gross value of the five plots is over 30 billion yuan. When the Chinese Huidao site is the most eye-catching, it will be the “land of battle for the military", with a valuation of nearly 10 billion yuan. The price of the winning floor is likely to exceed 100,000 yuan for the first time, setting the record for the most expensive price in Hong Kong.
According to the Government’s information, the hilltop site is located at Man Fai Road, 2, 4, 6, 8, 9 and 11. It is a traditional mansion. It is now a government hostel. It was still used for rent in the early years (before and after 2013). Zhang Jingda, a surveyor of the Central Plains, pointed out that the site is estimated to be a low-density single-family project. Assuming a plot ratio of 0.5 times, the floor can be built up to approximately 94,923 square feet. As the property price continues to rise, the price of the land floor will be estimated from the beginning of the year. The 80,000 yuan was raised to about 100,000 yuan, or about 25%, with a total value of about 9.47 billion yuan. It has the opportunity to challenge the record of the most expensive land sales in Hong Kong.
Wenhui Road’s land price is expected to be a new high
Lin Zibin, director of the American Association of Surveyors, pointed out that it is worth noting that although the government announced earlier that it will allocate a number of Kai Tak sites for housing development, there are still two Kai Tak residential units in the five residential plots in the new quarter. Launched at Site No. 3 and Site No. 4 in Area 4B. The two areas are similar in size. If the two sites are calculated at a price of about 16,000 yuan per floor, the valuations are 9.194 billion yuan and 9.196 billion yuan respectively.
In summary, the other two are located in the small plots of Tuen Mun Lam Tin and Lantau South Road, Lantau Island. The valuations are all $500 million. Due to the small scale involved, private investors and small developments are expected. Merchants are favored. They also believe that the five sites are valued at a level of 30.8 billion yuan.
The government is taking a multi-pronged approach
Apart from the five official sites in the Land Sale Programme, the Secretary for Development, Mr Wong Wai-lun, met with the media yesterday. The MTR (066) Ho Man Tin Station Phase 2 Property Development Project is also expected to be launched this quarter, providing about 900 staff. The potential supply of the building can reach about 2,750 people. He also stressed that the future will continue to be comprehensive and multi-pronged in order to solve the society’s earnest expectations for land demand.
When asked about the trend of private property prices, Huang Weilun stressed that the government has clearly demonstrated its determination to stabilize the supply of land and is conducive to the long-term healthy development of the property market. Private property prices are mainly related to interest rates and capital flows.