appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Salina Li

Brisk transactions in Hong Kong’s primary residential market continued apace, with two projects recording robust sales over the weekend.
Buyers had acquired 74 of the 138 units on Sunday at the 680-unit Grand Mayfair III on 29 Kam Tin Road in the New Territories in the second round of the project’s sales on Sunday, according to agents. The project, jointly developed by Sino Land, K Wah International, China Overseas Land and Investment and MTR Corp, sold all 138 units in the first round on October 21.
A total of 1,640 units at the Grand Mayfair project, which is being built in three phases, had been sold, accounting for 94 per cent of the overall units, according to Sino Land.
The latest batch included 40 one-bedroom units and 98 two-bedroom flats ranging from 350 sq ft to 561 sq ft. The flats were priced between HK$4.9 million (US$630,640) and HK$9.1 million, or between HK$13,119 per square foot and HK$16,143 per square foot after a maximum discount of 16 per cent.
Developer Sino Land’s chairman, Daryl Ng Win Kong, visited Grand Mayfair’s sales office on Sunday. He remains upbeat about the outlook for the city’s property market next year, noting multiple positive signals had emerged to boost the market.

Chief among the factors were the start of a lower interest-rate cut cycle and a robust initial public offering market, Ng said after the company’s annual general meeting on Wednesday, his first since being appointed chairman in August.
“Over the past nine months, it has been heartening to see strong sales performance for new developments across various districts among [the city’s] developers,” Ng said.
On Saturday, Henderson Land Development sold all 30 units at its Woodis project in Wan Chai within three hours in the second round of sales. The average price of the batch was HK$26,303 per square foot, more than 10 per cent higher than the first 75 units, which were priced at an average of HK$23,224 per square foot.
Henderson said end users accounted for about 65 per cent of the buyers, while investors accounted for the rest. The developer said it had sold 105 of the 167 units in the project.
Five buyers bought at least two units each, according to agents.
Mass residential capital values remained broadly stable in the third quarter, rising 0.4 per cent quarter on quarter, following a 1.1 per cent decline in the previous quarter, according to JLL.
Hong Kong’s lived-in home prices recorded a modest gain for a fifth straight month, rising 0.14 per cent in August and narrowing this year’s price decline to 0.24 per cent, according to the Rating and Valuation Department. Since April, home prices have increased 1.26 per cent.
Primary market transactions remained active in the third quarter as developers pushed new launches, keeping total volume broadly steady compared with the previous quarter, JLL said.
Although the one-month Hibor, or Hong Kong interbank offered rate, rebounded to 3.6 per cent by end-September after a sharp decline in the second quarter, major banks lowered their prime rates by 12.5 basis points following the US Federal Reserve’s September rate cut, providing support to the residential market.
Developers are expected to prioritise inventory clearance, given the existing stock of over 100,000 units and the government’s plan to increase public housing supply to 190,000 units over the next five years.


Asia-Pacific hotels a ‘most compelling’ investment amid travel growth, flat supply: CBRE

Hong Kong catching up with Dubai in ‘super-prime’ property sales amid Iran war

High office vacancy rates spur bid to rezone Kowloon East site for residential development

Hong Kong rises in property market transparency rankings, but trails Singapore and Japan

Hong Kong property

Hong Kong property: Grand Mayfair III and Woodis see brisk sales as market picks up

Buyers thronged to the Grand Mayfair III project during the first round of sales on Tuesday. Photo: Handout

The Grand Mayfair comprises three phases. Above, an artist’s rendition of the second phase. Photo: Handout

Sino Land chairman Daryl Ng sees positive signs for Hong Kong’s property market

Daryl Ng Win Kong, chairman of Sino Land, speaks to the media after the company’s annual general meeting on Wednesday. Photo: Handout

Sino Land’s One Park Place residential project is coming up in Yau Tong. Photo: Google Maps

Hong Kong homebuyers flock to Henderson Land project in Wan Chai

Potential buyers queue up at the sales office of Henderson’s Woodis project. Photo: Jonathan Wong

Henderson has priced its new flats competitively. Photo: Jonathan Wong

Hong Kong developer Great Eagle’s executives jointly acquire US$1.5 million flat

An illustration of Grand Mayfair II. A three-bedroom unit at the project sold for nearly HK$12 million to Rising Thrive Limited, among whose directors is a son of Great Eagle chairman Lo Ka-shui. Photo: Handout

An illustration of Grand Mayfair II. Photo: Handout

Grand Mayfair III sells all units amid stabilising Hong Kong property market

Potential buyers wait to buy flats in the Grand Mayfair III residential development in Yuen Long on Monday. Photo: Handout

A rendering of the Grand Mayfair II project. Photo: Handout

Business

Property

News

Hong Kong

Buyers acquired 71 of 138 units by late Sunday afternoon at the 680-unit Grand Mayfair III project led by Sino Land


Buyers acquired 71 of 138 units by late Sunday afternoon at the 680-unit Grand Mayfair III project led by Sino Land.


Hong Kong property: Grand Mayfair III and Woodis see brisk sales as market picks up

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Buyers acquired 71 of 138 units by late Sunday afternoon at the 680-unit Grand Mayfair III project led by Sino Land

Buyers acquired 71 of 138 units by late Sunday afternoon at the 680-unit Grand Mayfair III project led by Sino Land