Homebuyers shrug aside Hong Kong’s coronavirus fears, snapping up every Mid-Levels flat offered by Henderson Land for sale

Henderson Land Development sold all 15 flats at its The Richmond project at the Mid-Levels

The single block comprises 90 apartments of between 206 and 300 square feet (27.9 square metres), priced between HK$6.3 million (US$811,000) and HK$9.7 million

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The Richmond development in Hong Kong’s Mid-Levels, developed by Henderson Land Development, on 7 February 2020. Photo: Jonathan Wong

Published: 7:53pm, 8 Feb 2020Updated: 7:53pm, 8 Feb 2020

Hong Kong’s homebuyers shrugged aside a coronavirus outbreak that has kept office workers, shoppers and visitors to stay indoors, snapping up a limited release of new flats over the weekend.

Henderson Land Development, the city’s third-largest property developer, sold all 15 flats at its The Richmond project in the swanky neighbourhood of Mid-Levels on Hong Kong Island. The single block, due for completion in November 2021, comprises 90 apartments of between 206 and 300 square feet (27.9 square metres), priced between HK$6.3 million (US$811,000) and HK$9.7 million.

The successful sale, following a January 21 sell-out of 30 flats at the project, raises the revenue tally from The Richmond to HK$360 million, Henderson said.

“Sixty per cent of buyers came from Hong Kong Island, Kowloon and New Territories, each making up 20 per cent” of the customers, said Henderson’s general manager Mark Hahn, adding that the satisfactory” sales response gives the developer the confidence to offer a third-round sale soon.

Mark Hahn, general manager of sales at Henderson Land. Photo: SCMP

The brisk sales, even amid a coronavirus outbreak that has stopped property exhibitions and an ongoing political crisis, shows how the Hong Kong government’s easing of mortgage rules is effectively attracting more first-time buyers into the market. Some analysts are forecasting property prices to rise 10 per cent this year.