Posted by
Mac-010
16 yrs ago
Anyone checked out the show flats ?.
http://www.yorkplace.com.hk/
Best price now ?.
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Thx for feedback; will check out the show flats.
2.5-3m sounds too cheap for a brand new development though; even for the small ones.
I'll see what prices they offer; but if its that low its a no brainer...
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I was reading in the paper that they were selling around $9m back in the summer for the small units.. so even at $4m, that's quite unattainable I think, unless they completely tanked... which I don't think could happen as they were majorily sold.
Did you ever find out from a realtor? Keep us updated!
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The success of the J-Residence probably plays a big part in their market expectations. With as many as 13 units per floor, it wasn't particularly marketed as 'luxury' but it does have a high build quality, and has done very well for initial investors. Rental prices aren't hurting at all.
If you think no one will invest in a new development in the "ah-bahts, nutters and druggies" stomping ground, then check the availability and asking price at the J-Residence.
York Place will sell, regardless of how ridiculous we think the prices are.
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I like J-residence from outside at that price and i guess it will go down further (have not looked inside).
York place seem a bit on high end but have not visited the show flat yet.
Personally, i would not mind either and being in Wan Chai rather then Midlevels :)
I'm considering for own use (Mid levels might be better to rent out..).
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"The last trade for a small flat in J-Residence was around HK$6,900 per square foot according to Centadata."
What about the other properties traded since October? From $7,700-$11,000 per square foot. I don't think that 6 properties traded in this time is enough to give us any reliable data to start with.
I myself can't justify the prices at York Place, but they're trying to appeal to a different market to start with. York Place is a 2 or 3 unit per floor 'luxury' marketed development, unlike the 13 per floor 'lifestyle' J Res. Not to mention the last transaction date was at the start of October, right when the sky was beginning to fall.
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Saw in SCMP yesterday that asking prices at York to be cut by 30% (was 10k if i remember correct).
A step in right direction :)
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sxc
16 yrs ago
FYI, I was walking past York Place today and decided to take a look (no intention to buy). The smallest flat was asking around $6.5m, and the largest flat (971 sqft) was asking $14m. The middle sized flat is sold out.
Bedrooms are really small - poor utilisation rate from my assessment.
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I've been to see as well; i like the small one and utilization if you are single or max 2.
Looked like great materials and quality to me; square shaped; nice kitchen, good balcony from living room (not bedroom) etc.
- But price is crazy for such a small place... :)
I actually pref. Wan Chai to the mid levels expat ghetto ;) but not at that price.
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