Sun Hung Kai raises price of Victoria Harbour flats by up to HK$1.5 million, shrugs off Beijing’s rebuke on unaffordable housing
- Hong Kong’s biggest developer increased the price of six flats at the luxury housing project in North Point by up to 7 per cent from the previous announcement
Sun Hung Kai Properties, Hong Kong’s biggest developer, has raised the price of flats at its Victoria Harbour project by up to HK$1.5 million (US$191,000), even as Beijing singled out the city’s unaffordable housing as a “root cause” behind the anti-government protests.
On Friday, SHKP put six units at the luxury development in the city’s North Point district on the market, raising the price by up to 7 per cent from the originally announced price. The price increase ranges from around HK$320,000 to HK$1.5 million for the biggest flat.
The company could not be reached for comment as to why they had raised the selling price.
SHKP has priced a 286 sq ft unit – the smallest on offer – at nearly HK$11 million after discounts, or HK$38,159 per sq ft.
In comparison, a 265 sq ft flat at The Consonance in North Point was priced at HK$8 million, or HK$30,268 per sq ft, when it was launched in April.