Hung Hom Project Tide Sea Sells Out First Batch on Launch Day, Records Over 71x Subscription Overdemand
AM730 · 4 SOURCESabout 1 hour ago5 MIN
Summary
The much-anticipated Hung Hom residential project Tide Sea (瑅海) officially commenced its first-round sales on Friday (November 6), attracting overwhelming buyer interest. Developed by Sino Land (Stock Code: 083), China Merchants Land (Stock Code: 978) and the Urban Renewal Authority, the project saw all 138 priced units sold out on launch day, with the developer subsequently announcing a second-round sale of another 138 units for next Tuesday. The strong sales performance underscores robust demand for new private residential units in Hong Kong's prime urban locations.
Key Points
- Tide Sea is located at 88 Yung Kwong Street in Hung Hom, comprising two residential towers with a total of 451 units
- First-round sales offered 138 priced units plus 12 units via tender, with prices ranging from HK$5.98 million to HK$9.5718 million
- The project received over 10,000 subscription forms, achieving an oversubscription ratio exceeding 71 times
- One family buyer group expressed interest in purchasing 12 units for approximately HK$80 million
- On the same day of launch, the developer added 138 more units at prices from HK$7.1689 million to HK$11.282 million
Why It Matters
The exceptional sales performance of Tide Sea reflects persistent strong demand for well-located new residential projects in Hong Kong, particularly those near MTR stations with quality transportation connections. The project's immediate sell-out and the addition of a second batch demonstrate developers' confidence in the market, while the entry of mega-buyers purchasing multiple units signals continued wealth accumulation among Hong Kong's property investor class. The anticipated rental yield of 4% also indicates attractive investment returns that continue to draw capital into the residential property market .
The exceptional sales performance of Tide Sea reflects persistent strong demand for well-located new residential projects in Hong Kong, particularly those near MTR stations with quality transportation connections. The project's immediate sell-out and the addition of a second batch demonstrate developers' confidence in the market, while the entry of mega-buyers purchasing multiple units signals continued wealth accumulation among Hong Kong's property investor class. The anticipated rental yield of 4% also indicates attractive investment returns that continue to draw capital into the residential property market .