The new projects are selling at close-to 2nd hand market price, and the low interest rate in Hong Kong are favorable factors for home flat buyers.
Source: The Standard Finance
Henderson Land (0012.HK) sold out the first 38 units at High One Grand ,located in Cheung Sha Wan, within 40 minutes, before marking the small-flat project up 7 percent for another 50 flats. The project appealed mostly to the young, said the developer. Of the 50 homes in the second round, 28 are one-bedroom units priced from HK$4.78 million to HK$5.73 million. The rest are studios selling from HK$3.54 million to HK$4.48 million.
The weekend saw brisk sales of around 500 new homes with upgraders plowing into mid-sized flats, kicking off a year-end wave of project launches.
Tseung Kwan O again grabbed the spotlight as Wheelock Properties (0020.HK) sold 176, or 94 percent, of 188 units at The Parkside within a day of first release. All flats with two bedrooms went before 3pm Saturday, while the three to four-bedroom units also saw keen demand, mostly from upgraders. Another 102 units were released at HK$13,812 on average, up less than 1 percent.
Dragons Range by Kerry Properties (0683.HK) and Sino Land (0083.HK) sold 150 in a second batch of 173 units, after selling out 210 flats last weekend. Investors made up 30 percent of buyers, according to Kerry.