Yau Tong Qing Hai I Launches First-Round Sales, Secures 87 Units; Large Buyers Enter Market
SingTao · 1 SOURCESabout 2 hours ago5 MIN
Summary
Yue Xiu Property Development's Qing Hai I project in Yau Tong commenced its first round of priced unit sales on Saturday, October 10, 2026, with net prices starting from approximately 3.75 million Hong Kong dollars . The project's competitive pricing strategy successfully attracted numerous prospective buyers, with market sources indicating that 87 units were sold during the priority booking period, including multiple cases of large-scale purchases .
Key Points
- The sales venue at a Kowloon Bay commercial building saw long queues during the priority group session, with attendees speaking Mandarin and including young buyers and families
- Buyer Ms. Ng (吳小姐) spent over 20 million Hong Kong dollars to purchase four one- and two-bedroom units for personal residence and investment, citing the project's value-for-money, rental yield potential, and confidence in the Chinese developer
- Midland Realty senior director Bravo Pu Siu-ming stated that Kowloon buyers accounted for the highest proportion at about 50%, with New Territories and Hong Kong Island buyers making up the remaining 50%
- The project is primarily end-user driven at approximately 60%, with young buyers dominating due to the low entry threshold, while investors comprise about 40%
- Expected rental yield stands at approximately 4.5% with a per-square-foot rent of about 55 Hong Kong dollars upon project completion
- The development received over 39,800 ballots, achieving a subscription rate of 198 times oversubscription, making it a record-breaking applicant
- The first batch of 128 units was priced at an average of 13,900 Hong Kong dollars per square foot
Why It Matters
The strong sales performance of Qing Hai I demonstrates sustained demand for affordable new residential units in Hong Kong's eastern district, particularly among young first-time buyers and investors seeking rental income . The project's success also reflects growing buyer confidence in Chinese mainland developers operating in Hong Kong, as Yue Xiu Property's competitive pricing strategy has effectively captured market share from established local developers .
The strong sales performance of Qing Hai I demonstrates sustained demand for affordable new residential units in Hong Kong's eastern district, particularly among young first-time buyers and investors seeking rental income . The project's success also reflects growing buyer confidence in Chinese mainland developers operating in Hong Kong, as Yue Xiu Property's competitive pricing strategy has effectively captured market share from established local developers .