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Sales Frenzy Sweeps Hong Kong Property Market This Weekend
Mar 14, 2024
Sales Frenzy Sweeps Hong Kong Property Market This Weekend Hong Kong
By   Internet
  • City News
  • Hong Kong property market
  • sales frenzy
  • Tai Feng project
  • new price list
Abstract: Yesterday, the project released a batch of new units, totaling 168, with an average selling price of HKD 15,547 per square foot, approximately 5% higher than the average selling price of the initial batch. On Sunday (the 17th), Tai Fung will host an unprecedented large-scale sales event, publicly offering 336 units for sale, with an additional 12 units to be sold through tender, bringing the total to 348 units available.

The second batch of price lists for Tai Fung includes 168 units, with sale prices ranging from HKD 3.99 million to HKD 8.98 million, and prices per square foot ranging from HKD 12,997 to HKD 17,394. Compared to the units first released last Thursday, the average price per square foot for this batch has increased to HKD 15,547.


Wang Huizhen, Managing Director of Wang Xinxing Group, announced that the first two batches of price lists will be publicly released on Sunday, comprising a total of 336 units, with an additional 10 three-bedroom and two two-bedroom units available for tender. According to market sources, the project has received over 4,500 registrations of interest, with oversubscriptions reaching 12 times the available units, and registration will close this Saturday. Huang Haoxian, Director of Sales and Marketing at New World Development, stated that whether new units will be released in the future will be decided based on market response.


The Tai Fung project, with its prime location and high-end facilities, has garnered attention, offering a total of 807 units ranging from 235 to 3,415 square feet in practical area. It is expected to be handed over to buyers by the end of June 2025. With the first sales event approaching, Tai Fung is set to lead Hong Kong's property market into a new sales frenzy.


Sales Frenzy Sweeps Hong Kong Property Market This Weekend

Internet


In addition to the Tai Fung project, other developments are also releasing new price lists to attract buyers. Morning Bay Hill, a project under Henderson Land, located on Sai Yeung Choi North Street in Sham Shui Po, announced its latest price list yesterday, offering 50 units. Sale prices range from HKD 2.95 million to HKD 8.658 million, with prices per square foot ranging from HKD 15,800 to HKD 18,677, averaging HKD 17,531 per square foot, representing a 5.2% increase from the 2nd price list at the end of January. It is expected that 20 units will be officially released for sale this Sunday, attracting considerable attention from buyers.


Furthermore, Vanke Hong Kong has launched the 5th price list for its Linkfong I project, a redevelopment project in Yau Ma Tei's Medicine Street, offering a total of 16 units. Sale prices range from HKD 6.122 million to HKD 10.881 million, with prices per square foot ranging from HKD 25,594 to HKD 27,271, averaging HKD 26,321 per square foot, representing an increase of nearly 6% from the 4th price list at the end of May last year. The project will release 23 units for sale on Sunday.


Additionally, Sun Hung Kai Properties' Hui Do I project in Hung Hom's Hung Fuk Estate will offer 147 units for sale on Saturday. To boost sales, Midland Realty is offering incentives to buyers of Hui Do I, with the first three buyers receiving shopping vouchers worth approximately HKD 12,800 by the end of this month. Likewise, Ricacorp Properties is offering special benefits to buyers of units in Phase 1 of Fly High in Area 55, Tuen Mun, with the first 10 buyers receiving appliance vouchers worth approximately HKD 12,800.


Finally, Longfor Group's Jinyi Jingyi project in Kwun Tong will start tendering for 5 units next Monday. Longfor Group Hong Kong has launched the "National Shared Property Benefits" campaign, offering multiple services to attract buyers from China and Hong Kong, including hosting guided tours and providing priority rights to buy two parking spaces for designated units.

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Sales Frenzy Sweeps Hong Kong Property Market This Weekend
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