Since its opening, "Longxian Peak" has generated significant excitement in Hong Kong’s Homantin station residential project sector. The joint development by Eagle Kings and MTR has drawn over 12,000 visitors, with more than 2,500 subscription registrations and a subscription rate surpassing 11 times. These impressive figures showcase the high level of market interest and strong purchasing intent. In response to market demand, the developers will launch the first round of sales this weekend, further fueling market fervor.
In line with the sales strategy, the developer will commence the Phase IIA tender this Thursday, offering 84 large units, including 16 four-bedroom and 68 three-bedroom units, ranging from 899 to 1433 square feet. These units are designed to meet the needs of various family sizes. The indicative pricing for the tender will be set in line with the luxury real estate market prices along the Kowloon railway corridor to maintain competitiveness and appeal.
Ms. Leung Shuk Yee, General Manager of Sales and Marketing at Eagle Kings, noted that since the demonstration unit opened, over 12,000 visitors have been recorded, more than half of whom are from mainland China. This indicates not only the local interest but also significant attention from the mainland market. According to Ms. Leung, the developers will continue to launch new units based on market response and plan to initiate the first round of sales as early as this weekend.
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The rapid sales launch mainly aims to cater to the strong market demand for large units. The project has garnered enormous interest, with enthusiastic participation from local customers and unexpectedly active responses from mainland customers. Despite poor weather yesterday, crowds thronged the showroom, with many families patiently queuing to view the show units. Real estate agents actively solicited clients nearby, sharing information about the new developments and the latest market trends, indicating the high level of market enthusiasm and demand for the project.
Mr. Chan Wing Kit, Vice Chairman and President of the Residential Division at Centaline Asia-Pacific, mentioned that the competitively priced project is extremely attractive to the market, with 80% of the buyers being locals and many long-term investors among them. He anticipates that the developers might adjust prices in the future, but the increase is expected to be between 3% and 5%.
Mr. Poon Siu Ming, CEO of Residential at Midland Realty, revealed that their clientele primarily consists of end-users, accounting for over 60%, with the remainder being investors, about 40%. He mentioned that over ten groups of potential buyers have expressed interest in purchasing two units each, expecting the sales of this property to be highly successful and likely to sell out quickly.
Furthermore, the latest price list shows that the project involves 88 units ranging from one to three bedrooms, with sizes from 377 to 760 square feet. Unit prices range from HK$8.489 million to HK$22.126 million, with actual selling prices from HK$6.961 million to HK$18.143 million, considering up to 18% discount, resulting in an actual price per square foot of approximately HK$18,464 to HK$23,872, with an average price per square foot of about HK$20,900.
