Hong Kong’s homebuyers are likely to snap up 2,500 new flats in March, on track to deliver the best sales month in a year to developers, as a stock market rally and a cut in stamp duty spurred transactions.
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Kerry Properties on Thursday put 133 units at the Hava residential project in Yuen Long for sale, following two sell-out weekends for 371 flats.. The latest batch is priced between HK$3.28 million (US$422,000) and HK$6.42 million, with discounts of as much as 18 per cent.
As of 9.20pm on Thursday, 59 of the 133 flats on sale at the Hava project had been sold, agents said.
Sun Hung Kai Properties (SHKP) sold all 119 flats at Yoho West Parkside in Yuen Long on Tuesday, pricing the project at HK$11,103 per square foot on average. The sale comprised 20 one-bedroom units, 64 two-bedroom homes and 35 with three bedrooms.
On Saturday, Kerry, Henderson Land Development and Wang On Properties sold 352 flats across there projects, the best weekend for new home sales in four months, after Financial Secretary Paul Chan Mo-po cut stamp duties on small flats in the budget.
Hong Kong’s developers are likely to beat their November volume this month, surpassing the 2,497 flats, said Midland Realty and Ricacorp, two of the city’s largest property agencies. Sales of new home sales reached 3,618 units in April last year.
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