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Kerry Group Launches THE ASTER Development
Feb 22, 2024
Kerry Group Launches THE ASTER Development Hong Kong
By   Internet
  • City News
  • THE ASTER Property
  • Hong Kong Property Market
  • Luxury Property Market
Abstract: Kerry Group has announced the release of 18 additional units at THE ASTER development in Happy Valley, Hong Kong, attracting strong market attention. These units range from 581 square feet to 660 square feet, with prices ranging from HKD 17.848 million to HKD 22.137 million, resulting in an effective price per square foot of HKD 27,660 and an entry fee exceeding HKD 15.33 million.

Mr. Tony Tang, Director and General Manager of Kerry Group in Hong Kong, stated that since the launch of THE ASTER, the market response has been enthusiastic, with 44 units sold for approximately HKD 895 million, with over half of the units sold including tenancy agreements. This demonstrates a strong demand in the market for high-quality and potentially lucrative properties.


Kerry Group Launches THE ASTER Development

Internet


Of particular note, to attract more buyers, Kerry Properties has introduced two payment plans: "Happy Return 738, Worry-Free Relaxation" and "360 Easy Flexibility." These plans offer a two-year fixed interest rate of only 1.5% for a first mortgage, with a maximum loan amount of 80% of the property price, significantly reducing the initial burden on buyers. Under these plans, buyers only need to pay interest in the first two years without repaying the principal, increasing buyers' liquidity and further lowering the entry barrier into the market.


Mr. Tang further pointed out that with market expectations of a U.S. interest rate cut in the second half of the year, the property market has recently shown signs of recovery, especially in high-quality projects and the luxury housing market. He believes that the upcoming Budget will bring more market support measures, boosting market confidence. He also hopes that the government will fully lift the cooling measures. He expects property prices and transaction volumes to rise throughout the year, maintaining an optimistic outlook for the luxury housing market.


Kerry Group Launches THE ASTER Development

Internet


The introduction of these payment plans is seen as an important strategy by Kerry Properties to promote sales at THE ASTER and attract more potential buyers interested in the luxury residential project. This move is expected to bring new vitality to the Hong Kong property market and may serve as a reference model for promoting other developments.


In addition to THE ASTER, Kerry Group will also launch other developments this year, including Phases 4A and 4B of The Peak at South Horizons in Wong Chuk Hang, Phase 2 of Ocean Pride at South Horizons, Phase 13 of Park Mediterranean in Tseung Kwan O, and 18 Nam Long Road in Yuen Long. This demonstrates the developer's confidence in the Hong Kong property market and their optimistic outlook for future market trends.

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Kerry Group Launches THE ASTER Development
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