Sun Hung Kai sells all 188 units at Novoland, a sign housing sentiment is rebounding in Hong Kong
- Units at Novoland phase 2A ranged from 245 to 705 sq ft, and after discounts were priced between HK$3.35 million and HK$9.41 million
- The number of property deals fell 8.2 per cent to 5,284 last month, compared to 5,755 in April, a third lower year-on-year
Sun Hung Kai Properties sold all 188 units of its Novoland project in Tuen Mun on Saturday afternoon, as attractive prices drew first-home buyers to the new development.
Units at Novoland phase 2A consisted of one to three-bedroom units, ranging from 245 to 705 sq ft. After discounts, they were priced between HK$3.35 million and HK$9.41 million.
The sale began at 10am and by around 3pm all 188 units had been snatched up. More than 5,000 potential buyers registered their interest, according to property agency Centaline.
Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau, said the quality of the project’s amenities drew a large number of buyers, while the rental yield also provided an attractive selling point.
“With an expected rental yield of HK$42 per sq ft, the property is welcomed by homebuyers and investors,” Po said, adding that young buyers accounted for most customers.
The pricing is attractive for first time home buyers and lower than market rate in the neighbourhood, he said.
