State Residence Sells 14 Units in Five Days Amid Strong Demand
Thestandard · 1 SOURCES1 day ago2 MIN
Summary
Sky Ace Enterprises' State Residence project in North Point achieved brisk sales on Wednesday, with two more units sold via tender generating over HK$35 million in a single day . The development, backed by New World Development (stock code: 0017), has now sold a total of 14 units within five days at prices reaching as high as HK$42,000 per square foot . The first round of price lists is scheduled for Saturday, offering 140 units with discounted prices starting at HK$5.956 million . Over 7,200 registrations have been received, representing an oversubscription rate exceeding 50 times . Registration closes Thursday at 6pm .
Key Points
- State Residence sold two more units on Wednesday (September 23) via tender, bringing total units sold to 14 within five days
- Single-day revenue exceeded HK$35 million, with prices reaching as high as HK$42,000 per square foot
- New World Development (0017) is providing assistance and support for the State Residence project
- The first round of price lists this Saturday will offer 140 units at discounted prices starting from HK$5.956 million
- Over 7,200 registrations have been received, indicating an oversubscription rate exceeding 50 times
Why It Matters
The strong demand for State Residence reflects sustained buyer interest in the Hong Kong residential market despite broader economic uncertainties . With oversubscription exceeding 50 times and prices near HK$42,000 per square foot, the project sets a benchmark for upcoming launches in North Point and signals developers' confidence in the local property sector .
The strong demand for State Residence reflects sustained buyer interest in the Hong Kong residential market despite broader economic uncertainties . With oversubscription exceeding 50 times and prices near HK$42,000 per square foot, the project sets a benchmark for upcoming launches in North Point and signals developers' confidence in the local property sector .