Luxury Stanley flats tempt buyers

June Chen

K&K Property's One Stanley opened 22 special homes for public viewing yesterday, including a 1,097-sq-ft house with a 339-s-ft garden.

The developer said it has received more than 3,000 viewing inquiries since announcing last week that it would soon release a new batch of houses on the market.

The luxury complex comprises over 80 apartments and houses, affording picturesque views of Stanley Bay.

It has earned more than HK$1.34 billion from the sale of 16 homes so far.

Tony Cheng, investment and sales director of K&K Property, predicts the local luxury home market will be driven by increasing demand and falling interest rates this year.

Meanwhile, New World Development's (0017) upscale project in North Point was nearly 21 times oversubscribed as of yesterday with over 3,000 cheques received for the 143 flats in State Pavilia's first two price lists.

Cannas Ho Ka-yan, NWD general manager of business and marketing for special projects, said 60 percent of the buyers are from Hong Kong Island, adding that sales for the project will launch as soon as this weekend.

Located at 283 King's Road, State Pavilia offers 388 homes spanning between 306 and 1,522 square feet, and is expected to be completed in December 2026.

The project, part of the mixed-used redevelopment of the historic State Theatre, has earned more than HK$500 million since January from the sale of 13 flats by tender.