Social News
Written by: Lu Jinyang and Li Xingran
2021-02-27 12:30
Last update date: 2021-02-27 12:30
[Tenants Purchase Series/Public Rental Housing/Hin Keng Village/Festival City/The Pavilia Village] Hin Keng Village is located in East Sha Tin District, New Territories, close to Hin Keng Station and the entrance of Lion Rock Tunnel. There are also designated private buildings or new buildings nearby. Panru Town and The Pavilia Village, together with the Hin Keng Station on the MTR Tuen Ma Line, which opened to traffic last year, has transformed Hin Keng Village into a housing estate along the railway line. A number of factors have made it a more expensive rental housing estate in the New Territories. village.
As of 2019, the number of unsold units in Hin Keng Village was only 7.3%, which is the lowest among all rental housing estates in Hong Kong.
According to past transaction records, in Hin Keng Village, premium flats once changed hands to earn twice, and green form flats once recorded a case where they earned more than 16 times. The price of rental units has outperformed the market in recent years, and even speculation has occurred. , It is really interesting.
Hin Keng Village in Sha Tin is close to the MTR station and new developments in private properties, which has driven up property prices.
(Photo by Huang Baoying)
Hin Keng Village was occupied in 1986 and belongs to the third phase of the TPS estate. It has been on sale since February 2000. The building is 34 years old and provides 5876 units. As of the end of 2019, 5447 units have been sold, and they were not sold at that time. The percentage is 7.3%, which is the lowest among all rental housing estates in Hong Kong, which proves that the housing estate is very popular.
Hin Keng Station is right next to Hin Keng Village, and the East Rail Line is about to extend across the sea, making the village's traffic more convenient.
(Photo by Zhang Haowei)
After the first phase of the Tuen Ma Line was opened to traffic in February 2020, Hin Keng Station is right next to Hin Keng Village. In addition, the East Rail Line is about to extend across the sea, making the village’s traffic more convenient. In addition, Tai Wai New Town is like a famous city and The Pavilia Village was completed one after another. The new developments have more or less driven the property prices nearby. The developers also deliberately turned Tai Wai into a "central location in Hong Kong", making Hin Keng Village very attractive even as a rental housing estate. In the past, the transaction data of the paid land price and the unpaid land price unit shows that the value of Hian Keng Village has been rising, and each time it changes hands, it has recorded considerable profits.
First look at the transaction record of a high-rise unit in Hin Kwai Building, Hin Keng Village ▼ ▼ ▼
Look at the transaction record of a high-rise unit in Hin Hing Building, Hin Keng Village ▼ ▼ ▼
Look at the transaction record of a high-rise unit in Hin Yu Building, Hin Keng Village ▼ ▼ ▼
Tai Wai Famous City is a large residential estate near Hin Keng Village.
(Profile picture)
Festival City and Hin Keng Village are located on both sides of Che Kung Temple Road. The former is closer to Tai Wai Station. However, due to the rectangular housing estate in Festival City, the farthest one is just between Tai Wai Station and Hin Keng Station.
Mingcheng began to occupy in 2011. The 3 phases are named Mingcheng, Shenghui and Shengshi, providing a total of 4264 units, and the units are mainly large units.
What's more impressive about the famous city is that when the new houses opened for sale that year, the developers used "Hong Kong Centre" as the slogan, which surprised many citizens.
Looking at the transaction records, a 678-sq. ft. unit on the middle floor of Tower 2 of Festival City Phase 2 was sold in March 2020 at a price of 10.5 million and a price of 15,487 per square foot.
In addition, a 656-sq-ft unit on the lower floor of Block 5, Phase 1 of the Festival City, was sold in April 2020 at a price of 10 million yuan and a price of 15244 yuan per square foot.
Hin Keng Village has increased a lot, and there have been instances where it has made more than 16 times the profit without premium. Take the high-rise unit of Hin Hing Building in Hin Keng Village, which has paid the land price as an example. The price per square foot is 12,336 yuan. It is also a famous city 2 that was sold in March. The price per square foot of Block 2 of the Grand Palace is $15,487. However, Mingcheng is a private housing estate, and the building is only about 10 years old. It is only 25% away from the price of a public rental housing unit. This shows that the cost of Hin Keng Village has been quite high.
The high price of units in Hin Keng Village is not only due to the opening of the Tuen Ma Line, which has changed the housing estates to properties along the railway line, but also related to the development of new private real estate nearby. More importantly, the unit area in Hin Keng Village is lower than that in the famous city. Therefore, the phenomenon of “the finer the more expensive” the property market in Hong Kong has been fulfilled: On the other hand, since 2013, the government has launched a white-form HOS second market plan commonly known as “White House II”. With the increase in resources, the increase in public rental housing has even left private housing, that is, the government’s policy has pushed up the price of rental units in disguise.
01Research Institute Public Housing and Public Housing Policy Famous City Tai Wai
