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Weekend Property
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  • Some 238 of 336 units available at Uptown East in Kowloon Bay, worth about HK$1.4 billion, found buyers as of 6pm on Sunday
  • The units range from studios to two-bedroom flats, with prices from HK$3.73 million to HK$8.89 million after discounts

Buyers snapped up nearly 60 per cent of 165 units on offer at the Phoenext project in Wong Tai Sin, while shunning more expensive flats at KT Marina.

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The developers of smaller residential projects in Hong Kong are hastening sales by offering discounts before the Lunar New Year holiday, with the aim of increasing their market share before larger projects are launched later in the year.

Sun Hung Kai Properties (SHKP) topped the city’s home sales table in 2023, accounting for over a quarter of the deal volume for residential flats in one of the world’s most expensive property markets.

About 90 per cent of flats on offer this weekend at Yoho West, a joint project between SHKP and MTR Corp, are expected to be sold, according to agency estimates.

Sun Hung Kai Properties, Hong Kong’s largest property developer by market capitalisation, will on Saturday launch its biggest weekend sales since July 2022 for a new project in Tin Shui Wai.

Residential projects KT Marina in Kai Tak and SouthSky in Aberdeen saw buyers snap up only 92 units of a combined 303 flats on sale on Saturday.

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Almost 4,000 homebuyers rushed to snap up flats at CK Asset Holdings’ Coast Line I in Yau Tong on Sunday, just a week after all units in the other phase of the project, Coast Line II, sold out on their first day of sales.

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The developers behind Villa Garda III housing project in Hong Kong have hastened its sales campaign, releasing its first price list at discounts in response to the renewed buying interest sparked by CK Asset’s successful launch.

Hong Kong property developer CK Asset Holdings has released the price list for the first 50 units at its Coast Line I project just two days after homebuyers snapped up all 626 apartments in Coast Line II on Saturday.

Hong Kong’s home prices may retreat from 2023 until 2025, amid an expected supply surge of about 20,200 private homes, according to data from Our Hong Kong Foundation.

Sun Hung Kai Properties sold all 188 units of its Novoland project in Tuen Mun on Saturday afternoon, a sign that buyer sentiment is improving after sales hit a four month low in May.

Historically high lending rates did not deter buyers from purchasing more than half the available flats at the In One Above project by Chinachem Properties and MTR Corporation on Sunday.

Chinachem Properties and the MTR Corp sold 151 – about 70 per cent – of the 210 flats on offer at their latest project, In One, on Sunday, as easing interest rate rises boost sentiment among homebuyers and investors.

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Homebuyers snapped up at least 103 of 138 flats at Koko Mare on Saturday, as the reopening of Hong Kong’s economy and other positive developments boost purchasing sentiments.

Weekend sales at three property projects in Hong Kong were tepid on Saturday, as homebuyers take a “wait and see” approach with prices expected to fall.

As of 7pm only two out of 139 units on offer at the development on the site of Hong Kong’s former airport had been sold, according to Sammy Po of Midland Realty.

Homebuyers in the city flocked to buy flats on offer this weekend at Sun Hung Kai’s Novo Land project in Tuen Mun, reflecting a pre-emptive move against an expected rise in prime rate.

The project in Tuen Mun sold more than 96 per cent of the new flats on offer as first-time buyers eager to get on the property ladder took advantage of steep discounts.

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Hong Kong’s Henderson Land Development sold all flats at its One Innovale-Archway project in Fanling for a second consecutive weekend on Sunday, showing that demand remained strong despite rising interest rates.

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Hong Kong’s biggest mortgage lenders kept their prime rates unchanged immediately after the monetary authority’s June 16 move, giving homebuyers the opening to get ahead of higher borrowing costs.