King's Syun Sells 12 Units for HK$347M, Launches Third Price List
On.cc · 5 SOURCESabout 1 hour ago2 MIN
Summary
Chow Tai Fook Group member Talented Enterprise Development's King's Syun residential project in North Point achieved robust sales on Saturday (September 19), disposing of 12 units for nearly HK$347 million through tender. The developer seized the momentum to launch a second price list on the same day, followed by a third price list on Sunday, with units ranging from HK$6.108 million and formal sales expected to commence this week. The project has attracted over 3,000 registration of interests, representing an oversubscription of approximately 26 times for the 110 units across three price lists .
Key Points
- On September 19, the project sold 12 units through tender with transaction prices ranging from HK$18.3 million to HK$58.6 million, translating to unit prices from HK$29,000 to HK$42,000 per sq ft .
- The highest-priced unit was Flat A on the 31st floor, with a saleable area of 1,465 sq ft featuring a two-bedroom dual-suite layout plus workroom and storage, commanding a unit price of HK$40,000 per sq ft .
- The highest unit price per sq ft was Flat B on the 31st floor, with a saleable area of 1,393 sq ft, transacting at HK$58.506 million, or HK$42,000 per sq ft .
- Price List No. 2 (September 19) covers 30 units with saleable areas from 316 to 602 sq ft, net prices ranging from HK$6.156 million to HK$14.709 million, with a batch net average unit price of approximately HK$21,292 per sq ft .
- Price List No. 3 (September 20) also involves 30 units, including 20 one-bedroom, 8 two-bedroom, and 2 three-bedroom units, with net prices from HK$6.108 million to HK$15.079 million, net average HK$22,188 per sq ft .
Why It Matters
The strong sales performance of King's Syun, achieving nearly HK$347 million in a single day, signals sustained appetite for luxury residential properties in Hong Kong's Eastern District amid the Federal Reserve's rate hike decision, which Hong Kong banks chose not to follow . The developer's decision to expand inventory at existing price points while maintaining pricing discipline suggests confidence in the local property market's resilience, with market observers estimating rental yields could reach 5 percent upon project completion .
The strong sales performance of King's Syun, achieving nearly HK$347 million in a single day, signals sustained appetite for luxury residential properties in Hong Kong's Eastern District amid the Federal Reserve's rate hike decision, which Hong Kong banks chose not to follow . The developer's decision to expand inventory at existing price points while maintaining pricing discipline suggests confidence in the local property market's resilience, with market observers estimating rental yields could reach 5 percent upon project completion .