The Sterling II Draws Record Interest with 200-Times Oversubscription
Thestandard · 1 SOURCESabout 5 hours ago2 MIN
Summary
China Resources Land's (1109) The Sterling II project in Southwest Kowloon has generated extraordinary demand ahead of its Sunday sales launch. The development received 30,678 subscription checks for the 153 units available via price list, representing an oversubscription rate of nearly 200 times . The first round will feature 188 units, with 35 offered through tender and the remaining 153 through a price list . Unit sizes range from 307 to 730 square feet, with discounted prices from HK$5.43 million to HK$15.01 million, translating to HK$16,930 to HK$21,747 per square foot .
Key Points
- China Resources Land's The Sterling II in Southwest Kowloon received 30,678 subscription checks for 153 price-listed units, nearly 200 times oversubscribed
- The first round of sales on Sunday (September 26) will offer 188 units, including 35 via tender and 153 via price list
- Tender units comprise 28 three-bedroom apartments and 7 special terrace units, totaling 35 properties
- Unit sizes span 307 to 730 square feet, with discounted prices ranging from HK$5.43 million to HK$15.01 million
- Price per square foot ranges from HK$16,930 to HK$21,747 after discount
Why It Matters
The exceptional oversubscription of The Sterling II reflects persistent strong demand in Hong Kong's primary residential market despite broader economic headwinds. The project's robust reception underscores buyer confidence in well-located developments from established developers, potentially signaling continued pricing resilience in the luxury and mid-tier segments of the Kowloon housing market .
The exceptional oversubscription of The Sterling II reflects persistent strong demand in Hong Kong's primary residential market despite broader economic headwinds. The project's robust reception underscores buyer confidence in well-located developments from established developers, potentially signaling continued pricing resilience in the luxury and mid-tier segments of the Kowloon housing market .