Hong Kong's property market has long been known for its vibrancy and resilience, especially in the high-end sector. Recent transaction data once again demonstrates the robust performance of this market. For example, ST. GEORGE'S MANSIONS, a luxury residential project in Ho Man Tin developed by Sino Group and China Light and Power Group, successfully sold a four-bedroom luxury mansion yesterday, with a transaction price of HK$85.48 million, and a selling price per square foot of HK$40,958. Such transaction prices are remarkable, highlighting the prosperity of Hong Kong's high-end real estate market.
The successful transaction of ST. GEORGE'S MANSIONS underscores homebuyers' pursuit of quality living. Situated in Ho Man Tin, the project enjoys a convenient location and luxurious design, attracting widespread attention from homebuyers. Moreover, in Mid-levels West, The University Heights also auctioned a three-bedroom luxury home, with a transaction price of HK$62.5 million and a price per square foot of HK$39,457. The transaction prices of these high-end projects have all set market records, demonstrating homebuyers' high recognition of quality properties.
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On the other hand, The Victoria Harbour III project in West Kowloon also performed well. A unit with an area of 525 square feet was sold for HK$12.7016 million, with a price per square foot of approximately HK$24,194. This transaction once again demonstrates homebuyers' pursuit of superior locations and high-quality living environments.
Recent adjustments to government real estate policies seem to have failed to dampen the vitality of the high-end real estate market. Despite facing a series of regulatory policies, high-end properties continue to attract interest from mainland and local homebuyers, and transaction prices remain high. This phenomenon reflects Hong Kong's attractiveness as an international financial center and a city with superior quality of life, as well as homebuyers' confidence in the long-term appreciation of the Hong Kong property market.
In addition to luxury mansions, the high-end apartment market also shows signs of activity. For example, a unit with an area of 285 square feet in the ONE SOHO project in Mong Kok was sold yesterday for HK$5.6684 million, with a price per square foot of approximately HK$19,889. Similarly, The Summit in Wong Chuk Hang also recorded notable transactions, with a unit with an area of 571 square feet sold for HK$16.5063 million, reaching HK$28,908 per square foot.
