Despite offering a 20 per cent discount compared to a similar property nearby, sales at The Highline, a new residential project on Hong Kong Island, slowed down after an initial surge. Right Honour Investments, the developer, sold 43 out of 78 units in the first batch, attracting 306 preregistered buyers. The studio, one, and two-bedroom flats ranged from 211 to 524 sq ft and were priced between HK$3.88 million to HK$14.68 million.
Priced at an average of HK$22,719 per square foot, The Highline surprised the market with its 18 per cent lower pricing compared to the area’s prevailing rate. The developer’s strategic pricing helped attract buyers, including mainland Chinese homebuyers who accounted for 40 per cent of prospective buyers.
On the other hand, Henderson Land’s new project, The Haddon, faced slower sales with only 13 units sold out of 63. The overall property market in Hong Kong has seen a slowdown, with buyers adopting a wait-and-see approach due to uncertain interest rate outlooks.
The property market saw a significant increase in transactions after the removal of property curbs, with 4,141 new residential units sold in March. However, the numbers dipped in April and May, indicating a slowing trend in both primary and secondary markets.
\
[ad_2]
Source link
