Yuexiu Property Launches 132 Units of King Hoi I at Original Prices for Saturday Sale
AM730 · 2 SOURCES1 day ago2 MIN
Summary
Yuexiu Property (123) has launched the fourth price list for its King Hoi I development in Yau Tong, offering 132 units at original prices. The cheapest unit is priced at HK$3.89 million with a sale scheduled for Saturday, October 24. The project has already sold 435 units in just two weeks, raising over HK$2.5 billion. The developer is responding to strong demand from buyers who missed out on previous rounds.
Key Points
- Yuexiu Property released price list #4 for King Hoi I on Sunday, October 18, offering 132 units at original prices after adjusting for floor level and view factors
- Units range from 278 to 497 sq ft in saleable area, with net prices from HK$3.89 million to HK$7.78 million, translating to net prices per sq ft from HK$13,038 to HK$16,769
- The entry-level unit is Flat E on 3/F of Tower 5, a 281 sq ft one-bedroom apartment priced at HK$3.89 million, equating to HK$13,844 per sq ft
- The Saturday sale will feature two groups: Group A with 82 units for buyers purchasing 2-4 units, and Group B with 50 units for buyers purchasing 1-2 units, both via ballot
- The development at 23 Tung Yuen Street in Yau Tong comprises 5 residential towers across 3 phases, providing 1,339 units in total, with Phase 1 offering 617 units
Why It Matters
The strong sales performance of King Hoi I demonstrates continued robust demand for new private residential properties in Hong Kong's eastern district, even as market conditions remain challenging. The project's ability to sell 435 units worth HK$2.5 billion within two weeks underscores buyer confidence in well-located developments with proximity to infrastructure, potentially setting a benchmark for upcoming project launches in the area. With an expected completion date in December 2028, the development also offers buyers a clear timeline for occupation, which remains a key factor in the current market.
The strong sales performance of King Hoi I demonstrates continued robust demand for new private residential properties in Hong Kong's eastern district, even as market conditions remain challenging. The project's ability to sell 435 units worth HK$2.5 billion within two weeks underscores buyer confidence in well-located developments with proximity to infrastructure, potentially setting a benchmark for upcoming project launches in the area. With an expected completion date in December 2028, the development also offers buyers a clear timeline for occupation, which remains a key factor in the current market.