Jardine’s Lookout Stands Firm: No Rebates for Buyers, a Bold Move to Combat Price Distortion
ONE JARDINE’S LOOKOUT: A New Project in Happy Valley
ONE JARDINE’S LOOKOUT, a new project located at No. 1 Wang Tak Street, Happy Valley, has recently been launched by Emperor International (0163). The project has taken advantage of the interest rate cut in the United States to announce its first price list, open the show unit, and commission five major real estate agencies as sales agents.
Supporting Reasonable Commissions for a More Transparent Market
Emperor International Sales and Marketing Director Ke Yinghao expressed the hope that the “Support Reasonable Commission” proposal can allow real estate agents to support reasonable commissions and ensure that housing prices truly reflect market values, avoid price distortions, and avoid problems such as undervaluation.
Ke Yinghao also pointed out that among the customers who collected tickets on the first day of the project, 70% were locals and 30% were mainland professionals, and they are actively considering promoting the project.
The Unwritten Practice of Rebates in Hong Kong’s Property Market
Rebates in Hong Kong’s first-hand property sales market have become an unwritten practice, where real estate agents give part of their commissions back to buyers as a way to attract them to complete transactions. However, there is no unified standard for the amount of rebates, which has resulted in various situations such as lack of information circulation and unfair market conditions, causing the relevant industry to misassess the real estate market, resulting in losses.
ONE JARDINE’S LOOKOUT Show Unit and Price List
ONE JARDINE’S LOOKOUT released its first price list for 50 units, ranging from one- to three-bedroom units, including 18 one-bedroom units, 11 two-bedroom units, and 21 three-bedroom units. Unit prices range from NT$4.62 million to NT$11.91 million. After deducting the maximum 10% discount, the discounted price ranges from NT$4.158 million to NT$10.72 million, and the discounted price per square foot ranges from NT$15,888 to NT$20,650.
Among the admission units, Room E on the 2nd floor has a usable area of 231 square feet and is a one-bedroom unit. The discounted entry price starts from NT$4.158 million. The lowest priced unit per square foot is Room D on the 2nd floor, with a usable area of 559 square feet, a discounted price of NT$8.881 million, and a price per square foot of NT$15,888.