R1 SCMP Strong H Cube sales unlikely to boost home values Jan 24 2007

R1 SCMP Strong H Cube sales unlikely to boost home values Jan 24 2007

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Strong H Cube sales unlikely to boost home values Nan Fung project in Tsuen Wan manages to sell 350 units over the weekend using low prices to draw first-time buyers SCMP Wednesday, January 24, 2007 SANDY LI -------------------------------------------------------------------------------- Nan Fung's H Cube has seen 80 per cent of units sold in two days. Signs of improvement in the mass residential market have emerged after a project in Tsuen Wan recorded strong sales but home prices are unlikely to surge in the near term, according to agents. Despite higher than expected inflation rates, pay rises and hefty stock market gains, agents said home prices have remained unchanged so far. Over the weekend, Nan Fung Development managed to sell 350 units, or 80 per cent of its mass residential project, H Cube, in Tsuen Wan using a low-price strategy. The flats, aimed at first-time buyers, were sold at an average of HK$3,300 per square foot with some units selling for just HK$1 million. "The market atmosphere is better than last year. But despite these sales home prices will not
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This note was uploaded on 09/06/2010 for the course FINA FINA0805 taught by Professor Tse during the Spring '09 term at HKU.

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R1 SCMP Strong H Cube sales unlikely to boost home values Jan 24 2007

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