North Point's The Weatherly Sells High-Floor Unit at HK$40,000 per sq ft; First Tranche of 140 Units Launches Today
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
The Weatherly, a new residential development in North Point on Hong Kong Island, achieved a significant milestone yesterday when a high-floor three-bedroom unit was sold via tender for HK$31.96 million, or approximately HK$40,000 per square foot . The development, sponsored by a Chow Tai Fook Group member and with New World Development assisting in sales, officially launches 140 units today in its first round of sales, having attracted roughly 9,000 expression-of-interest registrations—representing an oversubscription of about 63 times . The project's dual-track sales model combines tender opportunities for premium units with price-list sales for the broader inventory, with the first tranche comprising 67 one-bedroom, 66 two-bedroom, and 7 three-bedroom units .
Key Points
- The 29th-floor Unit C at The Weatherly, a three-bedroom with storage room and bathroom spanning 799 square feet, sold for HK$31.96 million including one residential parking space
- The project offers only 9 parking spaces in total across the entire development, and this unit is expected to offer sea views—both factors that drove the premium pricing
- Since last Saturday, 15 high-floor units have been sold through the tender process, collectively exceeding HK$410 million, with the highest transaction price reaching HK$42,000 per square foot
- The first-round price lists cover 140 units ranging from 301 to 602 square feet, with net prices between HK$5.956 million and HK$15.305 million, translating to HK$18,848–HK$26,741 per square foot
- The entry-level unit is 3rd-floor Unit C at 316 square feet (one-bedroom), priced at a net HK$5.956 million
- The development employs a "dual-track sales" strategy, offering both tender and price-list channels simultaneously
Why It Matters
The strong buyer interest in The Weatherly—evidenced by the 63-times oversubscription and premium per-square-foot prices achieved—underscores persistent demand for new Hong Kong Island supply, where development sites remain scarce . As the first major new launch on Hong Kong Island in recent months, the project's performance will set pricing benchmarks and signal market sentiment for both developers and buyers in the luxury residential segment .
The strong buyer interest in The Weatherly—evidenced by the 63-times oversubscription and premium per-square-foot prices achieved—underscores persistent demand for new Hong Kong Island supply, where development sites remain scarce . As the first major new launch on Hong Kong Island in recent months, the project's performance will set pricing benchmarks and signal market sentiment for both developers and buyers in the luxury residential segment .