Kai Tak Luxury Flat Sells for Record HK$169M, HK$79K per sq ft
SingTao · 3 SOURCESabout 2 hours ago2 MIN
Summary
Sun Hung Hung Properties (stock code: 016) achieved a landmark transaction at its luxury waterfront development The Wings at Kai Tak on Monday, September 21, with the sale of a 2,144 sq ft four-bedroom, four-ensuite unit for approximately HK$169 million at HK$79,073 per sq ft, setting new price and per-square-foot records for standard units in the project. The developer confirmed that only two more units of the same type remain available in Tower 1, while cumulative sales from the project since its ready-for-occupancy launch have reached 48 units generating over HK$3.3 billion in revenue. This latest deal follows two additional transactions exceeding HK$100 million in the preceding weeks of September, highlighting sustained appetite for high-end residential properties in the former airport's runway district.
Key Points
- The sold unit is located at Tower 1, 22/F, Unit A, spanning 2,144 sq ft with a four-bedroom, four-ensuite layout and one parking space
- Transaction price of approximately HK$169 million and per-sq-ft price of HK$79,073 both broke the project's standard unit records
- This marks the third consecutive week the development recorded a transaction exceeding HK$100 million
- Sun Hung Kai Properties noted that only two units of this type remain unsold in Tower 1
- The project has sold 48 units in total since its ready-for-occupancy launch, generating over HK$3.3 billion
Why It Matters
The record-breaking sale signals robust demand for ultra-premium residential properties in Hong Kong's revitalized Kai Tak district, where former runway land is being transformed into a new waterfront housing hub. As one of the few remaining units of this flagship configuration approaches sellout, the transaction reinforces confidence in the luxury property market despite broader economic headwinds and may set a pricing benchmark for future developments in the area .
The record-breaking sale signals robust demand for ultra-premium residential properties in Hong Kong's revitalized Kai Tak district, where former runway land is being transformed into a new waterfront housing hub. As one of the few remaining units of this flagship configuration approaches sellout, the transaction reinforces confidence in the luxury property market despite broader economic headwinds and may set a pricing benchmark for future developments in the area .