Property developer SHKP sells 86 per cent of new flats on offer as robust home demand continues amid buyer optimism
- A total of 241 flats at Yoho West in Tin Shui Wai were sold on Saturday, in line with agents’ estimate
- The strong sales are a sign that Hong Kong ‘still has a lot of purchasing power’, according to Midland Realty
A total of 241 flats at Yoho West – a residential project jointly developed by SHKP and the MTR Corp in Tin Shui Wai, New Territories – were sold on Saturday, according to agents. With about 86 per cent of the 280 units on offer sold this round, the project in line with property agents’ estimate of 80 to 90 per cent.
“It’s pretty good sales, just like we expected,” said Sammy Po Siu-ming, chief executive of Midland Realty’s residential division for Hong Kong and Macau. “It shows the market still has a lot of purchasing power.”
“The attractive price is one of the most important reasons why the project is so popular,” he said. Around 80 per cent of the buyers are homebuyers, reflecting that the city still has robust housing demand. The other 20 per cent consists of investors, as rental prices are estimated to be HK$38 per square foot, a yield of 4 per cent, according to Po.