The commercial-residential development project FINNIE, located at 9 Fenwick Street, Quarry Bay, is being developed by Wheelock Properties (01243). The project is officially named FINNIE and will offer 90 units, primarily targeting small to medium-sized homes. It is expected to be completed and ready for occupancy by the end of May 2026, with a pre-sale period of approximately 22 months. Wheelock Properties' Executive Director, Cheng Tak-wan, stated that the name FINNIE reflects a focus on the finer details of living and a pursuit of inspiration. Sales for the project are expected to start soon, with the sales center and show flats nearing completion. FINNIE's prime location, close to Quarry Bay MTR Station and just a 3-minute walk from Taikoo Place, is likely to attract a large number of buyers.
The PARK WILSON III project, jointly developed by New World (00017) and Far East Consortium (00035), will launch its first phase this Sunday (21st) with 108 units, starting at an effective entry price of HKD 4.196 million. The project has exceeded expectations in popularity, having received nearly 5,300 applications by yesterday morning, oversubscribed by about 48 times. To support sales, the developers have partnered with Midland Realty and Mortgage Alliance to offer a "High Loan-to-Value Mortgage Discount," with up to 90% of the property's price financed, an interest rate of Hibor + 1.3 basis points (4.125% effective rate), and a maximum repayment period of 30 years. This promotion is expected to further boost sales.
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Sun Hung Kai's Tuen Mun Golden Bay Phase 1 Yilan project has performed remarkably well, receiving over 7,660 applications, oversubscribed by about 39 times compared to the 188 units in the first round of sales, with an average competition of 40 buyers per unit. To attract buyers, the developer, in collaboration with Centaline Mortgage, is offering exclusive property incentives. The first 10 buyers who purchase units through Centaline on the launch day will receive an HKD 8,800 travel voucher. This strategy has effectively driven the project's sales.
Star Properties (01560) has sold 285 units of Yuen Long After Rain since its launch in March last year, with 50 units remaining. To accelerate sales, the developer has recently introduced 8 open-plan units, priced around HKD 3.921 million. The entry unit, on the 11th floor, Room S, has a usable area of 294 square feet and a price per square foot of HKD 13,339. These units have attracted significant attention due to their superior cost-effectiveness.
Hysan University Heights on Mid-Levels sold a unit on the 1st floor, Room A, yesterday for HKD 64.5 million, with a usable area of 1,515 square feet and a price per square foot of HKD 42,574. The project's high-end positioning and quality amenities make it a popular choice in the market.
Recently, Kowloon Development's Oceanview Garden in Tseung Kwan O saw buyers purchasing two units, namely 32nd floor C7 and 27th floor A8, with transaction prices of HKD 5.376 million and HKD 7.661 million, respectively. These transactions further reflect the strong demand for quality residential properties.
With the launch and sales of multiple new projects, Hong Kong's real estate market continues to heat up. Active participation from buyers and effective strategies from developers are driving the market's prosperity. Looking ahead, more quality projects are expected to be introduced, further enriching market supply and meeting buyer demand.
