At least four new property projects are expected to be sold in Hong Kong this month, amounting to 2,689 flats for sale.
Developed by Kerry Properties, Lions Rise in Wong Tai Sin will offer 968 flats, the largest number of units to be offered in the Hong Kong property market. The flats range in size between 680 and 1,470 sq ft and can be priced from HK$6.8 million, or HK$10,000 psf.
Sun Hung Kai Properties (SHKP) is also expected to market 650 flats at Imperial Cullinan at Olympic Station, with sizes ranging from 800 sq ft to 1,900 sq ft and prices from HK$35 million each.
Another SHKP project, One Regent Place in Yuen Long, is expected to be launched this month. It comprises eight houses and 337 flats, with sizes ranging between 400 and 2,000 sq ft. Over the weekend, the developer opened an exhibit in Shenzhen, attracting more than 10,000 visitors.
Developed by Cheung Kong Holdings, Uptown in Yuen Long is also expected to market 37 houses, with sizes ranging from 2,000 to 2,300 sq ft each. Each property may be priced from HK$18 million, or HK$9,000 psf. The developer also offers a fixed mortgage rate for as low as one percent for the whole term.
Meanwhile, sales at other primary housing projects also performed well. Over the weekend, Henderson Land nearly sold out its 103 flats at The Gloucester in Wan Chai, while Cheung Kong sold about 12 flats at Festival City 2 in Tai Wai
On the other hand, the secondary market performed weakly over the weekend. Three benchmark residential projects in Hong Kong Island and Kowloon, including the Kornhill, Discovery Park and Laguna City, recorded zero transactions.
Other properties were sold after the asking prices were cut. An owner at Tai Koo Shing sold his 867 sq ft flat for HK$5.96 million, after cutting HK$340,000 off the asking price, while a flat owner at Tseung Kwan O lopped off HK$150,000 before selling a 511 sq ft flat for HK$2.95 million.