Opinion Network News: It is reported that a luxury residential land on South Bay Road in Repulse Bay, Hong Kong, began bidding on December 31, and the bid was cut off on February 11, 2022, with a total floor area of about 19,000 square feet.
The land market is valued at HK$950 million to HK$1.37 billion, equivalent to HK$50,000 to HK$75,000 per square foot of land, or breaking the HK$50,000 most expensive land price record set by the Peak Man Fai Road project in February 2021.
Cheung Kin Tat, executive director of Centaline Surveyor Bank, said the land launched this time could be built with low-density residential properties, with a price of up to HK$100,000 per foot. The project is small and attractive, and there has been a lack of similar supply in the area for a while, and it is expected that the rich will bid for the price of up to HK$70,000. He estimated that the number of tenders would be large and the competition would be fierce.
This article originated from the viewpoint real estate network
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