Wheelock sells 92 per cent of flats in second batch of Koko Rosso project in Lam Tin, despite higher prices
- Wheelock Properties sold 148 of 160 flats on offer in the second launch of the project within three hours on Wednesday night
- The developer raised the average price to HK$18,441 (US$2,349) per square foot, 0.5 per cent higher than the last round of sales on February 24
Hong Kong’s homebuyers are trickling back into the market.
“The sales have been strong, and there are many buyers,” said Ricky Wong, managing director at Wheelock. The response matched the bullish first launch of the 392-unit Koko Rosso project, when all 148 flats were snapped late last month.
The buoyant sale – despite the higher average price – underscored rising confidence in Hong Kong’s property market following the city’s abandonment of Covid-19 restrictions, the last of which was the mandatory wearing of face coverings on Wednesday.
The reopening of the border between Hong Kong and mainland China has raised hopes for the city’s battered property market, as buyers are seen anticipating an economic recovery following nearly three years of Covid-19 restrictions.
“The units on offer were sold by 11.30pm,” said Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau.
