2023-08-05 11:50:17
Hong Kong’s richest man Li Ka-shing’s Cheung Kong Assets Group announced yesterday (4) the price of the new project “Qinhai Station II” in Yau Tong, Hong Kong. The discounted price starts at 2.9 million Hong Kong dollars, a seven-year low. Figure: Taken from Wikipedia (data photo)
[Newtalk新聞] Cheung Kong Enterprises Group, a subsidiary of Hong Kong’s richest man Li Ka-shing, announced yesterday (4) the price of the new project “Qinhai Station II” in Yau Tong, Hong Kong. It is a new low, and it is 30% cheaper to buy than the nearby second-hand houses. The unprecedented price is regarded by the outside world as a “depth bomb” in Hong Kong’s real estate market.
According to the Lu media Caijing.com, regarding Cheung Kong’s behavior of selling properties at a discount, some real estate operators said that there are many reasons, such as the demolition or reconstruction of the fish market before the construction project, which may block the “Qinhai Station II” in the future. In addition, he also mentioned that Cheung Kong may want to reduce its position, and its return on real estate investment may not be as good as other projects.
Regarding the outside world’s claim that “Qinhai Station” sells its new houses below the market price, which is Cheung Kong’s move to put a “depth bomb” in the real estate market. Its executive director, Zhao Guoxiong, expressed the hope that this project can help citizens change houses and improve their living environment. Developers have the responsibility to solve the housing problem of the public with the attitude of “don’t make too much money, don’t make too much money”. The company’s business manager Chen Yongci also said that the construction project will be launched within a month at the earliest.
According to the report, when asked regarding the real estate situation in Hong Kong, should the public buy it? Cheung Kong Chairman Li Zeju said frankly that the timing of entering the market is indeed better than that of three years ago. Compared with three years ago, the possibility of interest rate decline is higher now, and the trend is more clear. Land prices have also fallen close to the government’s cost price. Compared with previous years, the possibility of land prices falling once more is lower.
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The location map of the construction project of “Qinhai Station II”.Figure: Taken from Tencent.com
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