Hong Kong’s primary residential market sees wave of launches, successful sales
Hong Kong homebuyers are poised to see new residential launches in the coming days and weeks following a sell-out weekend of more than 360 flats in two major projects in the city. Sun Hung Kai Properties (SHKP), one of Hong Kong’s major developers and landlords, was set to hold a second round of sales for Sierra Sea Phase 2C(2) in Shap Sze Heung, which is between Sai Kung and Ma On Shan, with 152…
Hong Kong's residential real estate market is experiencing a surge in new launches, with successful sales reported. Sun Hung Kai Properties, a major developer, will hold a second round of sales for Sierra Sea Phase 2C(2) in Shap Sze Heung, offering 152 flats at discounted rates. Yuexiu Property also sold out all 220 flats in The Atlas Phase 1 project in Yau Tong on the same day.
Derek Chan Hoi-chiu, head of research at Ricacorp Properties, notes that primary launches continue to outperform the secondary market due to developers offering aggressive price cuts and attractive rebates. CK Asset Holdings is set to commence soft marketing for its Montage residential development in Kam Tin North, providing 327 homes.
The Hong Kong Monetary Authority is expected to maintain interest rates steady, but higher rates could lead to higher mortgage payments. Hong Kong's office property sector also sees a boost with Swire Properties and Chinachem Group planning to redevelop two buildings into a premium harbourfront office tower, expected to deliver 500,000 square feet of gross floor area. The office market in Hong Kong saw a recovery in August, with vacancy rates dropping.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
