Hong Kong homebuyers snap up a third of 500 flats offered by five developers in city’s biggest weekend sale since September
- Henderson Land sold out all 50 flats on offer at its Caine Hill development within five hours after sales started
- Four other residential property projects received less interest on Saturday because many homebuyers are after the newest flats in the market
Hong Kong homebuyers snapped up 145 flats of nearly 500 units offered by five major developers as of 6pm on Saturday, marking the city’s biggest weekend sale since September in terms of number of flats up for grabs.
Caine Hill has a total of 187 units, including studio units measuring from 190 square feet, one-bedroom flats from 277 sq ft and a two-bedroom flat with rooftop at 446 sq ft. Sale prices ranged from HK$5.42 million to HK$8.69 million per unit, with the average cost per square foot at HK$28,780.
“A lot of homebuyers are interested in Caine Hill because it’s a new offering and the project’s location is close to the heart of the city,” said Sammy Po Siu-ming, chief executive at Midland Realty’s residential division. “The price is affordable for young homebuyers and it also attracted investors because rental income in the area can reach 3.5 per cent.”
Four other residential projects attracted less buyers on Saturday, according to Po, because homebuyers are more keen to acquire the newest flats on the market.
