Buyers shrug off rain and rising rates to snap up flats at Henderson’s One Innovale-Archway, Sun Hung Kai’s Novo Land

More than 24,000 potential buyers had registered to buy a total of 321 flats at Henderson Land’s One Innovale-Archway in Fanling and Sun Hung Kai Properties’ Novo Land in Tuen Mun

Henderson sold all 182 flats available for open sale, as did SHKP with its lot of 139 units

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Buyers line up at Henderson Land’s sales office in Tsim Sha Tsui on Wednesday for its upcoming One Innovale-Archway residential development in Fanling. Photo: Xiaomei Chen

Published: 7:43pm, 10 Aug 2022

Hundreds of Hong Kong home seekers shrugged off rising interest rates and ignored a typhoon No 3 warning to queue up at the sales offices of two major developers, snapping up heavily discounted flats.

More than 24,000 potential buyers, mostly in their 30s, registered to buy a total of 321 flats at Henderson Land Development’s One Innovale-Archway in Fanling and Sun Hung Kai Properties’ Novo Land in Tuen Mun on Wednesday. The cheapest flat on offer was a 209 sq ft unit priced at HK$3.11 million (US$396,260).

“The two new projects in the Northern New Territories attracted buying interest after they were launched at low prices,” said Louis Chan, Asia-Pacific vice-chairman and CEO of the residential division at Centaline Property Agency.

Henderson Land sold all 182 flats available for open sale by 7pm, with another three units available for tender. More than 9,100 buyers had registered for the sale.