Hong Kong’s lowest priced flats because 2014 to go on sale in Yuen Very long amid slipping costs
The Wah On Villa residences absolutely are a 15-minute minibus experience far from the MTR station in Yuen Lengthy. Image: Roy IssaThe Wah On Villa flats are a 15-minute minibus ride from the MTR station in Yuen Extensive. photograph: Roy Issa
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Hong Kong’s most inexpensive residences due to the fact 2014 have absent on sale - with a single condominium on offer you for HK$958,000 (US$122,322) - in Yuen Lengthy while in the city’s New Territories.
Gentleman Wai-hong, a member of 1 from the 4 clans in the region, will on Thursday set 3 apartments up for sale in Wah On Villa, a village property development. The properties vary from 603 sq ft to 746 sq ft in dimensions, and can be made available for HK$958,000 to HK$1.62 million, in accordance on the development’s website.
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Handful of takers for contemporary batch of flats at Hong Kong’s least expensive residential job this 12 months
“It is exceptional [to see households offered at less than HK$1 million],” mentioned Lee Shu-kam, associate professor of economics and finance at Hong Kong Shue Yan College. “There might be much more [such inexpensive apartments].”
Lee claimed the emergence of these kinds of low-cost residences was all the way down to the government’s new housing subsidies, including the Dwelling possession Scheme, which was passed past Friday and will give households for as low as forty two per cent of marketplace price. The scheme will create more selections for homebuyers searching for reasonably low-priced residences, so the interest in high-priced smaller flats will shrink and the prices of such homes may even require to trimmed for them to get aggressive.
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