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Hong Kong’s developers score a hat trick with city’s biggest home sales weekend this year, as stock market boom lifts sentiments
- MTR and Nan Fung sold 140 of the 179 flats of LP10 at Lohas Park as of 3:30pm, agents said
- Hong Kong Ferry (Holdings) and Empire Group Holdings sold 200 of the 281 flats of Skypoint Royale at Tuen Mun in the New Territories as of 4:00pm, with 14 buyers bidding for every available unit
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Hong Kong’s homebuyers returned to the market, snapping up 83 per cent of the 460 new flats put on sale at two locations in the city’s biggest property sales weekend this year.
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The city’s subway operator MTR and its real estate partner Nan Fung Group sold 142 of the 179 flats on offer at the third batch of their LP10 project at Lohas Park in Tseung Kwan O as at 8:00pm, scoring a hat trick over three successful weekends of sales.
Over at Tuen Mun in the New Territories, Hong Kong Ferry (Holdings) and Empire Group Holdings found buyers for 241 of the 281 flats of Skypoint Royale when sales ended at 8.30pm, with 14 buyers bidding for every available unit, agents said.
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The strong sales at the two locations marked the return of Hong Kong’s property bull market, as investors and owner-occupiers alike took advantage of discounted prices and cheap mortgages to pick up assets, confident that the coronavirus pandemic may soon come under control. Sentiments were also lifted by a booming stock market, topped off by Kuaishou Technology’s trading debut that gave investors a threefold windfall on the first day.
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