Yuexiu's Yau Tong Qinghai I Launches Second Round of 220 Units with Record 41,000 Registrations
AM730 · 4 SOURCESabout 3 hours ago2 MIN
Summary
Yuexiu Property (123)'s Qinghai I development in Yau Tong continues to generate significant market interest, with the developer announcing a second round of sales for 220 units on Saturday (October 17) and 18 three-bedroom units via tender starting Sunday (October 18). The project has recorded over 41,000 registration applications, marking an oversubscription rate of approximately 185 times. The second-round units range from HK$3.84 million to HK$8.14 million after applying the maximum 18 percent discount, with prices per square foot ranging from HK$13,012 to HK$16,171.
Key Points
- The project sold 212 units during its first round of sales over three days, generating over HK$12.38 billion in revenue
- On Monday (October 12), 12 three-bedroom units were sold via tender, raising over HK$144 million
- The second round on Saturday will offer 128 one-bedroom and 92 two-bedroom units, with sizes ranging from 285 to 510 square feet
- The entry-level unit is Flat C on Level 3 of Tower 5, a 285-square-foot one-bedroom with a net price of HK$3.84 million
- The 18 three-bedroom units to be sold via tender on Sunday have sizes between 714 and 721 square feet
Why It Matters
The overwhelming response to Qinghai I, with registrations oversubscribed by 185 times, demonstrates sustained strong demand for new private residential developments in Hong Kong's eastern district. The project's buyer profile, comprising 60 percent non-local district purchasers and 30 percent mainland and overseas buyers, underscores the broader appeal of Hong Kong's property market amid ongoing interest rate environment adjustments .
The overwhelming response to Qinghai I, with registrations oversubscribed by 185 times, demonstrates sustained strong demand for new private residential developments in Hong Kong's eastern district. The project's buyer profile, comprising 60 percent non-local district purchasers and 30 percent mainland and overseas buyers, underscores the broader appeal of Hong Kong's property market amid ongoing interest rate environment adjustments .