SIERRA SEA Phase 2C(2) Records 41 Tenders on Day One, Standard Units Hit Dual Record Highs
AM730 · 2 SOURCESabout 5 hours ago2 MIN
Summary
Sun Hung Kai Properties (SHKP, stock code: 016) saw robust demand for its SIERRA SEA Phase 2C(2) development on Friday, October 16, the first day of its tender sale. The West Bay project recorded 41 tender transactions, comprising 14 three-bedroom units with saleable area of 679 sq ft, 13 four-bedroom units at 760 sq ft, and 14 special units. The strong performance underscores continued buyer appetite for quality residential developments in the West Bay corridor .
Key Points
- Two standard units at Emerald Avenue Tower 1 set new price and per-square-foot records for the entire SIERRA SEA series
- Emerald Avenue Tower 1 Flat F on 33/F: 760 sq ft four-bedroom en-suite sold for HK$14.26 million at HK$18,764 per sq ft, setting the development's highest standard unit transaction price
- Emerald Avenue Tower 1 Flat A on 33/F: 679 sq ft three-bedroom en-suite sold for HK$13.399 million at HK$19,733 per sq ft, establishing the highest per-square-foot price for standard units
- The top transaction was Emerald Avenue Tower 1 Penthouse C on 35/F: 924 sq ft four-bedroom dual en-suite with 184 sq ft terrace and 726 sq ft rooftop, sold for HK$25.319 million at HK$27,402 per sq ft
- The project comprises two residential towers (Emerald Avenue Tower 1 and Tower 2) providing 522 units with saleable areas ranging from 381 to 924 sq ft, representing the smallest phase released among all launched phases
- The development marks the first introduction of a four-bedroom en-suite with storage and additional bathroom standard unit type
Why It Matters
The strong debut performance of SIERRA SEA Phase 2C(2) reflects sustained confidence in Hong Kong's residential market despite broader economic uncertainties, with buyers demonstrating willingness to pay premium prices for well-located new developments. The record-breaking prices set by standard units signal continued upward pressure on residential valuations in the West Bay district, which could influence future pricing strategies for nearby developments and shape market expectations for the broader Hong Kong property sector .
The strong debut performance of SIERRA SEA Phase 2C(2) reflects sustained confidence in Hong Kong's residential market despite broader economic uncertainties, with buyers demonstrating willingness to pay premium prices for well-located new developments. The record-breaking prices set by standard units signal continued upward pressure on residential valuations in the West Bay district, which could influence future pricing strategies for nearby developments and shape market expectations for the broader Hong Kong property sector .