Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer, has priced the next batch of units on offer at its massive Sierra Sea residential project about 5 per cent higher than previous phases, signalling a welcome improvement in the city’s housing market.
The 148 units in Phase 2A of the development in Sai Sha Wan, Sai Kung, were priced from HK$3.43 million (US$440,961), with an average discounted price of HK$10,968 per square foot, according to sales documents released on Tuesday.
The latest launch follows earlier offerings this year, which all sold out, and underscored the developer’s confidence in homebuyers’ appetite amid a rebound in market sentiment.
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The new batch comprises flats with saleable areas ranging from 297 to 700 sq ft. It comprises five one-bedroom units, 122 two-bedroom flats and 21 three-bedroom units.
That reflected SHKP’s continued focus on family-sized flats, as more than 85 per cent of primary home sales this year were smaller units.
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Buyers paying cash were eligible for a 15 per cent discount, which brought discounted prices to between HK$3.42 million and HK$8.31 million. Discounted prices per square foot ranged from HK$10,018 to HK$13,776.
