Developer sales climbed 20% to 36 units

Discounted projects up for grabs.

Citing the Hong Kong Economic Journal (HKEJ), Barclays said developers sold 36 units over the past weekend, up 20% w/w.

The sales were mainly from developers’ leftover inventories with demand appearing more fragile. HLD/NWD sold 10 units at Double Cove in Ma On Shan over the weekend, representing 21% of 48 units on offer.

Here’s more from Barclays:

Other notable weekend sales include five units at Sino Land/Hopewell’s The Avenue in Wan Chai and three units at Cheung Kong’s Diva in North Point.

Looking ahead, after a considerable wait, Cheung Kong finally released the price list for the first batch of 108 units at Trinity Towers in Sham Shui Po. These 108 units are priced at HK$11,776psf on average on a SFA basis. With up to 11.75% discount, the net average price could be as low as HK$10,392psf.

Compared with the average transaction price HK$12,135psf of Wang On’s The Met.Delight in Sham Shui Po and also the secondary market price of HK$12,135psf at Metro Harbourview, Cheung Kong has undercut its competition by 11%.

In aggregate, Trinity Towers is comprised of three towers totalling 402 units with 83% being three-bedroom units. The project is slated to be completed in July 2015.

Other upcoming launches with presale consent secured include Cheung Kong’s 1,648-unit The Hemera in Tseung Kwan O (Phase IIIA of Lohas Park) and 1,071-unit Mont Vest in Tai Po.

Other major projects awaiting consent to presale include The Nova in Western from COLI/URA (255 units), City Point from Cheung Kong (1,717 units) and the two Tai Po Pak Shek Kok sites from Sino Land (546 and 545 units).