Kerry upbeat on launch of Bayview project in Ma Tau Kok this month
Executive of developer's real estate division is positive new project in Ma Tau Kok will attract buyers despite new rule on primary sales
Kerry Properties will launch its residential development Bayview in Ma Tau Kok by the end of this month, the fifth new project offered for sale since the new rule on primary flat sales took effect at the end of April.
The developer released the first price list of 50 flats sized between 508 square feet and 890 sq ft based on saleable area on Friday. The average price is HK$15, 589 per sq ft.
Sales would begin on June 29, said Chu Ip-pui, an executive director of Kerry Real Estate Agency. The 36-storey Bayview consisting of 175 flats at 9 Yuk Yat Street, Ma Tau Kok, is complete.
"What you see is what you buy," said Chu, who added that he was confident there would be a good sales response despite a falling stock market and recent comments by the US Federal Reserve about scaling-down its bond purchasing scheme.
Federal Reserve chairman Ben Bernanke said last week it could start winding-down its bond buying this year and end it by mid-2014, which will see a turnaround in liquidity and an increase in interest rates.
"The project offers just 175 homes and new supply is limited," said Chu, who expected strong interest from upgraders in Kowloon East. "It is a brand new project and captures a nice sea view," he said. About 10,000 visitors viewed the project's show flats over the weekend.