The first weekend of November saw sluggish sales at two Hong Kong residential projects, with a combined 303 units hitting the market, as homebuyers continued to take a wait-and-see approach for potential incentive policies from the government.
Still, Po said the market’s wait-and-see approach is expected to gradually change after the Hong Kong government’s policy address. He indicated that 50 to 60 per cent of the units offered at KT Marina could sell out on Saturday because of their attractive pricing.
The size of the KT Marina flats, which include one-bedroom to three-bedroom units, measures from 269 square feet to 771 sq ft. Six of the units were put up for tender sale, while the remaining 212 units were on offer based on their list price.
Prices ranged from HK$5.75 million to HK$15.46 million, which corresponds to HK$17,987 and HK$26,384 per sq ft. Consisting of two phases, the KT Marina development has a total of 2,138 units.
Hong Kong property moves may lift deal volumes but price stability is key
Hong Kong property moves may lift deal volumes but price stability is key
The 23-storey residential building consists of one- to two-bedroom flats measuring from 286 sq ft to 881 sq ft. The units sold a discount of HK$4.71 million to HK$7.93 million.
Hong Kong property deals at 7-yr low, government rejects all bids at land auction
Hong Kong property deals at 7-yr low, government rejects all bids at land auction
The latest decision, though expected by traders, still comes as a much-needed relief for the city’s mortgage borrowers.