Staff reporter
Weekend sales of new homes in Hong Kong sizzled ahead of the annual budget address on Wednesday, with Hava in Yuen Long selling all 250 flats on the same day of its launch.
Hava's developer Kerry Properties (0683) had received more than 14,000 subscriptions for the 250 flats on offer, making them 56 times oversubscribed.
They were priced from HK$2.65 million to HK$5.06 million or HK$8,898 to HK$13,558 per square foot after discounts.
The 250 flats sold for a total of HK$960 million.
Also in Yuen Long, High Park II by Asia Standard International (0129) sold 39 flats over the weekend.
In Ap Lei Chau, Wang On Properties' (1243) Coasto launched 30 flats after receiving over 300 applications on the first day of registration. The new batch offers 20 one-bedroom and 10 two-bedroom units priced from HK$4.44 million to HK$7.24 million or HK$16,032 to HK$19,501 per sq ft after discounts.
In Cheung Sha Wan, Henderson Land Development's (0012) Belgravia Place phase two launched its second price list with an average price of HK$15,988 per sq ft after discounts, 0.1 percent higher than the previous list.
The list has 68 flats whose prices range from HK$5.04 million to HK$8.87 million or HK$15,090 to HK$17,217 per sq ft after discounts.
Meanwhile, another Henderson project, Eight Southpark in Kowloon City, received 1,700 subscriptions for 63 flats, making them 27 times oversubscribed.
The first batch was priced at an average of HK$17,388 per sq ft after discounts, nearly 30 percent lower than that of nearby new homes launched more than two years ago.
In Kai Tak, Double Coast I, co-developed by four developers including Wheelock Properties and Henderson, sold one flat for HK$7.8 million.
In the secondary market, the top 10 housing estates recorded 12 deals over the weekend, up 33 percent from last week to a 10-week high, according to Centaline Property.
Buyers flock to Hava’s sales office. SING TAO
