Victoria Coast Three-Bedroom Unit Sets Dual Record at HK$36 Million
Thestandard · 2 SOURCESabout 2 hours ago2 MIN
Summary
Chinachem Group's Victoria Coast development on Victoria Road in Pokfulam achieved record-breaking sales on Saturday when a three-bedroom flat with a parking space sold via tender for HK$36 million . The transaction set dual records for the project, marking the highest-ever unit price and price per square foot since the development's launch. The foreign buyer was attracted by the unit's spacious layout and sea views, and intends to use it as a primary residence .
Key Points
- The three-bedroom unit is located at Tower A, 30th floor, unit 2, spanning 1,367 sq ft with a three-bedroom, one-ensuite, and study layout
- The transaction price of HK$36 million (approximately HK$26,335 per sq ft) broke both the project's total price and price-per-sq-ft records
- Chinachem Group developed Victoria Coast as a renovation project on Victoria Road in Pokfulam, Hong Kong Island
- The buyer is a foreign expatriate who valued the unit's generous internal space and harbour views
- Victoria Coast has accumulated 18 unit sales to date, generating total proceeds exceeding HK$500 million
Why It Matters
The dual record-breaking sale at Victoria Coast signals sustained appetite for premium residential properties in the Hong Kong Island villa market, even as broader property sentiment remains cautious . This transaction could set a new pricing benchmark for similar luxury units in the Pokfulam area and reinforce developer confidence in launching future high-end projects.
The dual record-breaking sale at Victoria Coast signals sustained appetite for premium residential properties in the Hong Kong Island villa market, even as broader property sentiment remains cautious . This transaction could set a new pricing benchmark for similar luxury units in the Pokfulam area and reinforce developer confidence in launching future high-end projects.