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Successful sales of SHKP's Kai Tak project "Tianxi... Sea", a Kai Tak project of the SHKP Group
Apr 3, 2024
Successful sales of SHKP's Kai Tak project Hong Kong
By   Internet
  • City News
  • Kai Tak Project
  • Tianxi. Sea Property
  • Property Sales
  • Housing Market Forecast
Abstract: The "Tianji Hai" seaside luxury residential project under New World Development has demonstrated strong sales momentum since its launch, with 32 units successfully sold and a total transaction amount of nearly HK$2 billion. This achievement has bolstered the confidence of the developer, who predicts that the price per square foot of the unique unit types will once again set new records.

As the Deputy General Manager of New World Development, Thunder admitted that "Tianji Hai" has attracted significant attention since its debut, with prices per square foot remaining resilient. The company aims to continue leading the price charts in the Kai Tak area, striving to reach new heights. He revealed that New World Development is soon to announce future plans, reflecting their optimistic outlook on the market.


Thunder also disclosed two upcoming projects under New World Development, namely the third phase of The YOHO Hub in Yuen Long and the third phase of NOVO LAND, which are expected to further invigorate the property market. In his view, last month's transaction volume exceeded 4,000, indicating increased market liquidity following the relaxation of restrictions.


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Internet


Both first-time homebuyers and those looking to upgrade are expanding their choices, which will contribute to the stable development of the market. He further pointed out that the current property market is in a phase of "stable prices and increasing volume." It is expected that interest rates will peak and then decline in the second half of the year, further encouraging more residents to purchase homes or invest, thus promoting the recovery of property prices.


Regarding the sales performance of "Tianji Hai," New World's General Manager, Chen Hanlin, added that since the project's tender began, transaction prices have ranged from HK$37.38 million to approximately HK$149 million, with prices per square foot ranging from HK$33,197 to HK$67,946. The average transaction price exceeded HK$62.23 million, with an average price per square foot of HK$45,336.


Of note, four units in the transaction records were sold for over HK$100 million each. More than half of the buyers are non-local, primarily from mainland China, and nearly half are large-scale investors. The largest investor spent approximately HK$270 million to purchase four units.


Chen Hanlin stated that various types of units are favored by buyers, and the company plans to launch new units in the near future. It is expected that the price per square foot of the unique unit types will once again rise, reaching new highs.

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Successful sales of SHKP's Kai Tak project "Tianxi... Sea", a Kai Tak project of the SHKP Group
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