Real Estate Capital Asia Partners, developers of the ALTRO in Sai Ying Pun, have announced the new price listings.(http://www.altro-hk.com/Price%20list%201B-140424.pdf) for the remaining units of the 28-storey residential property at 116–118 Second Street, offering stamp duty rebates for buyers.
Real Estate Capital Asia Partners, developers of the ALTRO in Sai Ying Pun, have announced the new price listings. http://www.altro-hk.com/Price%20list%201B-140424.pdf) for the remaining units of the 28-storey residential property at 116–118 Second Street, offering stamp duty rebates for buyers.
From the 5/F to 25/F, ALTRO accommodates two apartments per floor, providing residents with the luxury of privacy. Unit A has a saleable area of about 450 sq ft while unit B is approximately 400 sq ft. Residents on the higher floors also enjoy exquisite harbour views. The single-storey simplex units occupy the 26/F to 29/F, while the spectacular duplex penthouse, with an internal staircase, extends to the 30/F and 31/F. There are currently 19 unit A apartments (450 sq ft) remaining for sale, nine unit B apartments (400 sq ft), four single-storey simplex units (773 sq ft) and a duplex (1,201 sq ft) with a rooftop (177 sq ft).
The developer is currently offering stamp duty rebates to attract end users and investors. Buyers purchasing units from the 5/F to 25/F will receive a 7.5% stamp duty rebate; for those buying units located on the 26/F or above will receive an 8.5% stamp duty rebate and an additional 10% discount.
The residential property bordering vibrant Central and stylish Sheung Wan, is the latest iconic project in the district. Consisting of 41 units, the 2/F is dedicated to a clubhouse with recreational facilities, including an outdoor swimming pool, changing rooms and an open deck, while the sky garden, which features an outdoor seating area and lush greenery, is located on the 3/F.
Demand for properties in this district has become enormous. The extension of the MTR Island Line, as well as a number of properties and infrastructure projects in development, has significantly increased the appeal of Sai Ying Pun. Located next to the upcoming Sai Ying Pun and Hong Kong University MTR stations, the project will continue to attract huge interest from investors and end users.
Units A and B on the 18/F and the single-storey simplex unit on the 27/F are show flats fitted with delivery standards, and are open daily between 9 am and 6 pm. The developer also plans to convert a unit between the 26/F and 29/F into a stylish show flat to demonstrate the contemporary and modern character of the project.
Keith Chang, Managing Director of Savills Realty said, “ALTRO was well received by the market, with 22 units sold on its launch date. The developer deciding to relaunch the project indicates it is upbeat on the market outlook. Market sources have said that lower-floor A units (450 sq ft) have been leased for HK$24,000 per month, or HK$53 per sq ft of saleable area. B units (400 sq ft) on the same floor have also been leased for HK$24,000 per month, or HK$60 per sq ft of saleable area. This high rental level reflects the project’s excellent location and that it is sought-after in the market.”