Wheelock's Monaco Sells Final Three-Bed Unit for HK$20.17 Million
Thestandard · 2 SOURCESabout 2 hours ago1 MIN
Summary
Wheelock Properties has completed the sale of the final three-bedroom unit at its Monaco development in Kai Tak for HK$20.17 million, marking a significant milestone for the project. The furnished apartment, located on the 35th floor of Tower 2A, was sold via tender at HK$29,752 per sq ft, reflecting strong market demand for quality residential units in the emerging Kai Tak district .
Key Points
- The unit sold was Flat B on the 35th floor of Tower 2A, a three-bedroom plus storage layout with a dry kitchen
- The apartment spans 678 sq ft of saleable area and was sold fully furnished and decorated
- The entire Monaco series has accumulated 1,692 units sold, bringing in total revenue exceeding HK$21.5 billion
- Grande Monaco, another phase of the development, was completely sold out earlier this year, and Monaco now has only one remaining unit
- The transaction reflects robust demand for premium residential properties amid an active property market sentiment
Why It Matters
The near-complete sellout of the Monaco series demonstrates sustained buyer appetite for well-located new developments in Hong Kong's transforming Kai Tak district, reinforcing confidence in the luxury residential market . With limited inventory remaining and strong transaction volumes, the successful sales trajectory underscores the viability of premium development projects in the post-pandemic property landscape .
The near-complete sellout of the Monaco series demonstrates sustained buyer appetite for well-located new developments in Hong Kong's transforming Kai Tak district, reinforcing confidence in the luxury residential market . With limited inventory remaining and strong transaction volumes, the successful sales trajectory underscores the viability of premium development projects in the post-pandemic property landscape .