Hong Kong property: Henderson’s Gateway Square Mile sees modest sales, the first setback after lifting of curbs
- Henderson Land Development sold 31 of the 68 units offered in the first round of sales at Gateway Square Mile in Tai Kok Tsui as of 8:30pm
- Uptown East in Kowloon Bay, a joint venture between Wong Sun Hing and New World Development, found 50 buyers for the 132 units on offer
New home sales in Hong Kong stuttered slightly on Friday, with buyers giving a lukewarm response to Henderson Land Development’s latest project in Tai Kok Tsui, the first setback after the removal of property curbs.
Henderson sold 31 of the 68 units, or 45.6 per cent, in the first batch at Gateway Square Mile in Tai Kok Tsui as of 8.30pm, according to the developer.
The company was unable to replicate the success of its Belgravia Place project. Two batches of flats launched earlier this month sold out instantly.
The flats at Gateway Square Mile, comprising 46 one-bedroom and 22 two-bedroom flats, ranged from 252 to 353 sq ft. They were priced from HK$4.37 million (US$589,000) to HK$7.3 million after discounts, or HK$17,029 to HK$21,586 per square foot.
“The project is attractively priced, and buyers can expect a rental return of 3 per cent,” said Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau.
