Koko Hills first batch starting from $7.9m

Business | Kevin Xu and Winnie Lee 3 Jul 2020

Wheelock Properties has released 83 flats in the first price list of Koko Hills in Cha Kwo Ling, at an average HK$19,995 per square feet after discounts.

The cheapest 366-sq-ft flat was priced at HK$7.87 million, or HK$21,508 per sq ft, after discounts.

Phase 1 of Koko Hills will offer 413 units measuring between 345 sq ft and 2,024 sq ft.

Elsewhere, Sun Hung Kai Properties (0016) has launched 100 units at Townplace Soho in Central for leasing, measuring between 286 sq ft and 661 sq ft, with monthly rents starting at HK$23,000.

In Mid Levels, Watari Shinichiro, the son-in-law of the late shipping tycoon Pao Yue-kong, bought a 2786-sq-ft flat at Century Tower from actress Cecilia Cheung Pak-chi for HK$133.8 million.

Meanwhile, Hong Kong fell two places to rank as the sixth most expensive city in the world for expats, according to findings from human resources consultancy ECA International, which conducted a survey in March.

"Despite political and social unrest over the course of 2019, coupled with the impact of Covid-19 making some people more reluctant to move to the SAR, Hong Kong has only seen a small drop in the global rankings," said Lee Quane, regional director of Asia at ECA International. "Hong Kong is still more expensive than other Asian expat hubs, such as Tokyo and Singapore," he added.

Major mainland cities all dropped in the rankings this year, with Beijing and Shanghai both falling nine places to rank 24th and 19th respectively due to signs of a weakening economy and a poorly performing currency.

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