Hang Seng Properties sells $70 million in first round of new properties in Cheung Sha Wan

The first round of sales, conducted through a price list, included 68 units and attracted approximately 13 buyers. According to reports, 11 units were sold in the evening, with a total transaction value exceeding HKD 70 million. The 1-bedroom units were particularly popular, with five units sold.

According to transaction data, the cheapest unit sold was Unit B5 on the 5th floor of Block B, with a practical area of 237 square feet, selling for approximately HKD 4.045 million. The highest-priced unit was Unit B4 on the 20th floor of Block B, with a practical area of 499 square feet, selling for HKD 9.624 million, at a rate of HKD 19,287 per square foot.

In addition to The Pavilia Hill, the overall new development market recorded over 20 transactions yesterday, including some significant players entering the market. For example, The Pinnacle by Henderson Land Development (Stock Code: 0012) recently launched some promotional measures, attracting customer attention.

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Yesterday, a group of major clients purchased two units for approximately HKD 20.55 million. Among them, Unit C on the 25th floor of Block 2 of The Pinnacle with a practical area of 459 square feet was sold for HKD 9.725 million, at a rate of HKD 21,187 per square foot.

In addition, Stars By The Harbour in Fo Tan recorded consecutive transactions for two days. Unit H on the 19th floor of Block 2, with a practical area of 259 square feet and an open-plan design, was sold for HKD 5.897 million, at a practical rate of HKD 22,768 per square foot.

According to Yang Congyong, Marketing and Planning Director of Midland Realty, the buyers of these units are professionals from the mainland. Due to the government's "First Pledge, Then Charge" stamp duty policy, buyers chose to purchase jointly.

Since its launch, The Pavilia Hill has sold a total of 915 units, with a total transaction value exceeding HKD 9.4 billion and an average rate of HKD 20,369 per square foot. Since its relaunch in September, the project has sold 43 units, with a total transaction value exceeding HKD 490 million.

These figures indicate strong interest from luxury homebuyers in the Cheung Sha Wan area. With growing market demand and active participation from homebuyers, it is expected that the real estate market in the area will continue to thrive, providing more opportunities for investors.