Hong Kong’s Sun Hung Kai prices Yoho West flats at 6-year low, readies for biggest weekend of property sales since July 2022
- 350 flats at residential project jointly developed with MTR Corp go on sale this weekend
- Not difficult to see all flats being snapped up on Saturday, Midland Realty’s Sammy Po says
Sun Hung Kai Properties (SHKP), Hong Kong’s largest property developer by market capitalisation, will on Saturday launch its biggest weekend sales since July 2022 for a new project in Tin Shui Wai.
About 350 flats at Yoho West – a huge residential project jointly developed by SHKP and MTR Corp – will be put on sale this weekend. The flats on sale will be drawn from three price lists SHKP has released for a total of 613 flats.
The first batch of units has been priced at an average of HK$10,888 (US$1,395.5) per square foot after discounts – a six-year low for new homes.
A second batch of 163 units has been priced at HK$11,633 per square foot on average after discounts, while the third batch of 170 units has been priced at HK$12,437 per square foot after discounts.
Property agents are optimistic about the sale despite a sluggish property market.
“It is not difficult to see all flats being snapped up on Saturday,” said Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau. About 15,000 prospective buyers have written cheques to vie for the 350 flats on offer, he added.
