Sun Hung Kai Properties' new residential project atop Yuen Long Station, The YOHO Hub II, has received an enthusiastic market response since the announcement of its price list. The project has temporarily received over 5,500 subscription tickets, oversubscribed by about 25.2 times. This data shows that despite the volatile global economic backdrop, Hong Kong's real estate market continues to exhibit robust demand.
The first round of sales for the project is scheduled for this Saturday (11th), with 210 residential units planned for release, including 81 two-bedroom units and 129 three-bedroom units. The deputy managing director of Sun Hung Kai, Lei Ting, disclosed that the sales day would be divided into Group A and Group B. Group A is primarily for large-scale investors, who can purchase up to four units each, while Group B allows for the purchase of one to two units. Currently, more than half of the ticket holders are major players, demonstrating high confidence in the project from investors.
Discussing the project and market situation, Lei Ting expressed optimism about the Hong Kong property market despite the complex international economic conditions. He anticipates a "stable price and increasing volume" trend in Hong Kong's real estate market in the latter half of the year, amidst poor economic data from the United States. He also mentioned that other group projects, such as Imperial Gardens and NOVO LAND Phase 3, are planned to be launched sequentially, which will further stimulate the market.
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The price range for the first batch of units in The YOHO Hub II is from HK$8.082 million to HK$15.77 million, with per square foot prices ranging from HK$15,394 to HK$19,188. After discounts, the actual selling prices are approximately HK$6.8292 million to HK$13.3256 million, with effective per square foot prices between HK$13,008 and HK$16,214.
Particularly noteworthy is the entry-level unit located in Room D on the 3rd floor of Block 8, which has an area of 467 square feet and a two-bedroom layout. The original price is HK$8.082 million, with a per square foot price of HK$17,306. The price after discount drops to approximately HK$6.8292 million, with an effective per square foot price of about HK$14,624. This shows that even the market's entry-level units possess relatively high value and investment appeal.
Moreover, the highest-priced unit, located in Rooms H on the 48th and 49th floors of Block 8, has an area of 901 square feet and features a three-bedroom layout with a storage room. Each unit is priced at HK$15.77 million, with a per square foot price of HK$17,503. The price after discount is approximately HK$13.3256 million, with an effective per square foot price of about HK$14,790. This configuration demonstrates the project's market positioning strategy to cater to different levels of demand.
As the project progresses and the market responds, The YOHO Hub II is expected not only to offer solid returns for investors but also to significantly impact the urban landscape and living environment in the Yuen Long area. This project reflects Sun Hung Kai Properties' profound confidence in the Hong Kong real estate market and its commitment to enhancing residential quality and meeting diverse residential needs.
