Hong Kong’s real estate bull run gets a lethargic start in Year of the Ox as city’s first sales weekend gets a mixed response
- Hong Kong Ferry Holdings and Empire Group sold 76 of 128 flats on offer at Skypoint Royale as of 9.30pm, agents said
- Chevalier International Holdings and the Urban Renewal Authority sold none of the 42 flats on offer at the Sablier project, comprising mostly unsold flats
Hong Kong’s homebuyers made a tentative return to the market, giving their collective cold shoulder to older projects but picking up flats at a new launch to give a mixed response to the city’s first property sales in the Year of the Ox.
In Tuen Mun in the New Territories, Hong Kong Ferry Holdings and Empire Group sold 76 flas, or nearly 60 per cent of the 128 units on offer, at the second-round sales launch of Skypoint Royale as of 9.30pm, with as many as 32 buyers bidding for every available flat, agents said.
In Tai Kok Tsui, Chevalier International Holdings and the Urban Renewal Authority failed to sell any of the 42 flats on offer at the Sablier project, left unsold from a previous launch.
“The turnout of prospective homebuyers has been pretty good,” said Sammy Po Siu-ming, chief executive of Midland Realty’s residential division, adding that the sales result was within his expectations. “This is not the first round of sales for the projects, and many potential homebuyers have already purchased flats from previous rounds of sales. The price of flats has also risen slightly.”
