Henderson raises Conduit Rd flat price by HK$33 million in fortnight
Major developers are raising prices at their new developments as demand for Hong Kong property continues to defy cooling measures
Hong Kong’s major developers are cashing in on the seemingly insatiable demand for the city’s residential property, aggressively raising the prices of apartments in their new projects.
Henderson Land Development, Cheung Kong Property Holdings and Sun Hung Kai Properties have all ramped up their prices in the past few days despite the government’s best efforts to cool the market.
The most eye-watering increase was for a Mid-Levels flat whose sale price shot up by HK$33 million (US$4.25 million) in the space of just a fortnight.
Today, making home purchases may require the joint effort of three generations in a family as property prices soar to sky high
The four-bedroom, 3,060-square-foot unit is on the 40th floor of 39 Conduit Road, Henderson’s super-deluxe residential development on the Mid-Levels. The developer, owned by tycoon Lee Shau-kee, raised prices for the remaining units by 15 per cent on Thursday.
The offer price for the 40th-floor flat went up to HK$255.92 million, or HK$83,633 per square foot, from HK$222.84 million, or HK$72,824 per square foot, just two weeks ago.
On the same day, CK Property increased the price of the second batch of 76 units at Harbour Glory in North Point by as much as 8.9 per cent from three days earlier.
A 1,595 sq ft unit on the 25th floor of Tower One is being offered at HK$105.98 million, or HK$66,447 per square foot, about HK$9 million more than a flat of the same size on the 20th floor released on Monday.