The Sterling I 397 Times Oversubscribed in Second Sales Round
Thestandard · 1 SOURCESabout 2 hours ago2 MIN
Summary
CR Land's (Overseas) luxury residential project The Sterling I has achieved a 397-times oversubscription rate in its second round of sales, reflecting intense demand for premium Hong Kong properties. The highly anticipated sales event on Saturday will release 170 units through both price list and tender mechanisms, with pricing from HK$5.4 million to HK$13.38 million per unit. Buyer interest spans multiple demographics, including local families, property upgraders, and mainland buyers.
Key Points
- The second-round sales on Saturday (August 29) will offer 133 units via price list and 37 units via tender, totalling 170 units
- Buyer composition breakdown shows large-scale investors at 20%, local families at 30%, upgraders at 20%, and mainland/international buyers at 30%
- Unit configurations include 47 one-bedroom, 61 two-bedroom, and 25 three-bedroom units ranging from 304 to 672 square feet
- Discounted prices range from HK$5.4 million to HK$13.38 million, translating to HK$17,236 to HK$22,370 per square foot
- Club Sterling facilities span over 170,000 square feet across four floors with more than 40 amenities, including an 8,300-square-foot children's playground
Why It Matters
The 397-times oversubscription rate signals robust confidence in Hong Kong's prime residential market despite broader economic headwinds . The diverse buyer profile, with mainland and overseas professionals accounting for 30% of interest, underscores the city's continued appeal as a wealth preservation destination for regional capital .
The 397-times oversubscription rate signals robust confidence in Hong Kong's prime residential market despite broader economic headwinds . The diverse buyer profile, with mainland and overseas professionals accounting for 30% of interest, underscores the city's continued appeal as a wealth preservation destination for regional capital .