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WEDNESDAY, NOVEMBER 30, 1977
TEN SAI KUNG FLATS SOLD
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THE GOVERNMENT TODAY (WEDNESDAY) SOLD 10 FLATS AT SAI KUNG FOR $1.22 MILLION.
AT A PUBLIC AUCTION ATTENDED BY ABOUT 150 PEOPLE, THE FLATS WERE SOLD AT PRICES RANGING FROM $110,000 TO $146,000. FIVE FLATS WERE WITHDRAWN FROM THE AUCTION.
THE 692 SQ. FT. FLATS ARE IN A ROW OF MODERN FIVE-STOREY BLOCKS BUILT PRIMARILY TO RE-HOUSE VILLAGERS AFFECTED BY THE HIGH ISLAND WATER SCHEME.
IT WAS THE THIRD SALE IN A SERIES OF AUCTIONS PLANNED BY THE SAI KUNG DISTRICT OFFICE.
EIGHT OF THE FLATS SOLD TODAY ARE IN MAN NIN STREET AND OTHERS IN YI CHUN STREET.
THE FLAT WHICH RECEIVED THE HIGHEST BID IS ON THE SECOND FLOOR OF MAN NIN STREET. IT WAS SOLD AT $146,000.
OTHER MAN NIN STREET FLATS ON THE THIRD OF FOURTH FLOOR ATTRACTED BIDS VARYING FROM $110,000 TO $134,000.
EACH.
TWO YI CHUN STREET FLATS WENT UNDER THE HAMMER AT $110,000
BIDDERS AT THE AUCTION HAD THE OPTION OF PAYING CASH OR 50 PER CENT DEPOSIT WITH THEIR BALANCE TO BE PAID BY INSTALMENTS OVER TEN YEARS.
THE SENIOR ESTATE SURVEYOR OF THE SAI KUNG DISTRICT OFFICE. MR. DEREK DEAR WHO CONDUCTED THE SALES SAID LATER THAT AT LEAST ONE BUYER HAD INDICATED HE WISHED TO PAY FOR THE FLAT UNDER THE INSTALMENT PLAN.
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