16 June 2014 - Many brand new residential developments were launched over the weekend with attractive stamp duty cash rebate packages on offer in time for Father’s Day. Ming Pao reported that 437 first hand residential units were sold during the weekend, including Sun Hung Kai Properties’ new project at “The Seafront” in Tsuen Wan West which sold 3 houses yesterday. The sale of one house broke the record for the highest per sq.ft transaction in the New Territories at a rate of HKD 55,889 per square foot (net). This property was sold for HKD161.8M with net area of about 2,895 square feet together with a 2,922 square feet private garden.

 

Apple Daily commented that with budget like this, an individual could buy a prime luxury residential property on the Peak. For instance, a 2,903 sq.ft house at Strawberry Hill is now asking for HKD188M and another 3,600 sq.ft house at La Hacienda is currently asking for HKD150M on the market.