Henderson Land's Hung Hom Ying Hui Project Sells 136 of 138 Units in First Round
SingTao · 2 SOURCESabout 1 hour ago2 MIN
Summary
Henderson Land's Ying Hui development in Hung Hom achieved remarkable sales on Saturday, with 136 of 138 units sold in the first round of sales via price list. The project received 4,085 subscriptions, representing an over-subscription rate of 28 times, with entry-level units priced at approximately HK$5.42 million. Two major buyer groups purchased five units each during the priority selection period, with the largest single transaction reaching HK$41.3 million. Given the overwhelming demand, Henderson Land immediately launched Price List No. 5 with 45 additional units and scheduled a second round of sales for September 16 .
Key Points
- The development sold 136 of 138 units within hours of opening, with only two units remaining unsold as of 5pm on Saturday .
- Two S Group major buyers each purchased five units: one spent HK$41.3 million on one three-bedroom and four two-bedroom units; the other spent HK$28 million on five one-bedroom units .
- The 138 units offered in the first price list ranged from 264 to 418 square feet, with discounted prices between HK$5.43 million and HK$10.38 million (HK$19,732 to HK$24,825 per sq ft) after a 10% discount .
- Buyer demographics showed 60% end-users and 40% investors, with approximately 20% being mainland Chinese buyers seeking long-term rental investments .
- Centaline and Midland both reported expected rental yields of 4.7% with monthly rents around HK$85 per sq ft, attracting investor interest .
Why It Matters
The strong sales performance of Ying Hui reflects continued robust demand for new private residential projects in Hong Kong's core urban areas, particularly those with convenient transportation links and proximity to universities . The high proportion of mainland buyers and investment-focused purchasers signals ongoing interest in Hong Kong's property market despite broader economic uncertainties, while the rapid sell-out suggests developers may have room to adjust pricing upward in future launches .
The strong sales performance of Ying Hui reflects continued robust demand for new private residential projects in Hong Kong's core urban areas, particularly those with convenient transportation links and proximity to universities . The high proportion of mainland buyers and investment-focused purchasers signals ongoing interest in Hong Kong's property market despite broader economic uncertainties, while the rapid sell-out suggests developers may have room to adjust pricing upward in future launches .