Primary Market Records 250 Deals as New Launches Drive Buyer Enthusiasm
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Hong Kong's primary residential market experienced a surge in activity over the weekend, with approximately 250 transactions recorded across multiple developments. The Beaumount II at Lohas Park in Tseung Kwan O led the charge, selling 19 units within two days as buyers rushed to beat an upcoming price adjustment. The broader market sentiment was bolstered by new project launches, with secondary developments also reporting meaningful sales volumes.
Key Points
- Lohas Park The Beaumount II sold 19 units over the weekend, generating over HK$140 million in revenue as the project prepares for a price increase effective Monday
- A 584-sq-ft unit on the 38th floor of Tower 1B became the most expensive transaction at HK$10.62 million, translating to HK$18,191 per sq ft
- The Beaumount II has cumulative sales of 1,061 units worth over HK$9.2 billion since launch, with 80 units sold in August alone totaling HK$640 million
- Swire Properties' The Habitat at Chai Wan moved 6 units over two days for a combined HK$59.809 million, including a 538-sq-ft two-bedroom flat sold for HK$10.015 million
- Wheelock, Henderson Land, New World, and Empire's MIAMI QUAY series at Kai Tak recorded 4 new deals, with a 620-sq-ft three-bedroom unit fetching HK$15.112 million or HK$24,374 per sq ft
Why It Matters
The weekend's strong performance signals renewed confidence in Hong Kong's primary property market, with developers gaining pricing power as buyer demand stabilises. The sustained sales momentum across multiple price segments, from mass-market projects like The Beaumount II to luxury offerings at MIAMI QUAY, suggests a broadening recovery that could support broader economic sentiment in the coming months.
The weekend's strong performance signals renewed confidence in Hong Kong's primary property market, with developers gaining pricing power as buyer demand stabilises. The sustained sales momentum across multiple price segments, from mass-market projects like The Beaumount II to luxury offerings at MIAMI QUAY, suggests a broadening recovery that could support broader economic sentiment in the coming months.