Cheung Sha Wan's Bondlane I: Buyer Forfeits Unit After 5 Days, Loses HK$330,000
Vanke Hong Kong's new development, Bondlane I in Cheung Sha Wan, has recorded two forfeited transactions this month. Most recently, a buyer of a studio apartment canceled the deal just five days after making the purchase, likely incurring a forfeiture of over HK$330,000.
According to the sales record, the unit in question is flat H located on the 23rd floor, with a saleable area of 232 square feet and a studio layout. The buyer had agreed to purchase the unit in early December 2024 for HK$6.631 million under a 120-day prompt payment plan. The developer also offered incentives, including a stamp duty discount and furniture package.
However, just five days later, the unit was marked as "no further progress after signing the provisional sale and purchase agreement," suggesting that the buyer had terminated the transaction. As a result, the buyer is estimated to forfeit 5% of the property price, amounting to HK$331,600.
This forfeiture marks the second recorded case for Bondlane I this month.