Advertisement

Hong Kong interest in luxury flats rebounds after September surge for smaller units

Developer Nan Fung reports that three and four-bedroom flats are particularly popular at its Island Garden project in Shau Kei Wan

Reading Time:2 minutes
Why you can trust SCMP
A woman checks flat models for Henderson Land’s Park One development in Sham Shui Po. Photo: Edward Wong

Three and four-bedroom flats proved popular with home buyers on Saturday as developers launched new luxury developments following strong sales of small flats in September.

Advertisement

Nan Fung Development sold 26 flats at its Island Garden development in Shau Kei Wan from its first batch of 148 units. The most expensive sold for HK$31 million, or HK$26,168 per square foot, the developer said.

CK Property Holdings reportedly sold more than 30 flats at its Zumurud development in Ma Tau Kok on Saturday, with one buyer snapping up four units. A total of 46 flats were on offer.

Brisk sales of small flats lifted residential transactions to a four-year high in September as developers pushed new home projects at lower prices, but experts predict first-hand transaction numbers will dip this month.
Advertisement

“For October, because the first-hand property supply is mainly luxury flats, the total first-hand transactions will drop to around 2,000 for October,” said Sammy Po, chief executive of Midland Realty’s residential department.

Advertisement