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Weekend Property
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Hong Kong homebuyers snap up all flats in ‘Northern Metropolis’ district in first weekend sales after Carrie Lam’s policy address

  • Developer Tai Hung Fai Group Holdings sells all 30 flats at Artique development in Sheung Shui, a district that is part of Lam’s proposed Northern Metropolis
  • Weekend property sales, usually held on Saturdays, were postponed this weekend after the city’s first typhoon signal No. 8 of the year

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Hong Kong’s North New Territories area, with Shenzhen in the background. Hong Kong’s border area with mainland China will be built into the new Northern Metropolis of 2.5 million people in 20 years. Photo: Winson Wong
Martin Choi
Hong Kong’s first weekend property sale after Chief Executive Carrie Lam Cheng Yuet-ngor’s policy address was mixed, as homebuyers snapped up all the flats in Sheung Shui, which is part of a new proposed “Northern Metropolis”, but were less enthusiastic about flats in Lohas Park from an earlier project.
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Developer Tai Hung Fai Group Holdings had on Sunday evening sold all 30 flats at its six-storey Artique development in Sheung Shui, a district that is part of Lam’s proposed Northern Metropolis. The project received about 850 registrations of intent, or around 28 bids for each available flat, according to agents.

“The new Artique project in Sheung Shui has received a boost from Chief Executive Carrie Lam’s proposal, which has generated some excitement among prospective homebuyers in the area,” said Louis Chan Wing-kit, Centaline Property Agency’s vice-chairman and chief executive of its residential department in Asia-Pacific.

Weekend property sales, usually held on Saturdays, were postponed this weekend after the city’s first typhoon signal No. 8 of the year was hoisted. All typhoon signal warnings were cancelled on Sunday, as Tropical Storm Lionrock moved away from the city.
Hong Kong’s border area with mainland China will be built into the new Northern Metropolis of 2.5 million people in 20 years, according to a blueprint laid down by Lam in her policy address on Wednesday. It will include a “Silicon Valley” that will closely interact with neighbouring Shenzhen.
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Upon the full development of the metropolis, up to 926,000 flats, including the existing 390,000 homes in Yuen Long and North districts, will be available to house a population of about 2.5 million, Lam said.

The metropolis will include Tin Shui Wai, Yuen Long, Fanling and Sheung Shui, along with six new development areas under planning or construction.

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