Lohas Park Seasons Avenue Series Crosses 1,000 Units Sold, Exceeds HK$8.7B Revenue
SingTao · 3 SOURCESabout 2 hours ago1 MIN
Summary
The Seasons Avenue series at MTR Lohas Park in Tseung Kwan O has achieved a major milestone, surpassing 1,000 units sold with cumulative sales exceeding HK$8.7 billion . Jointly developed by Sino Land, K. Wah International, Kerry Properties, China Merchants Land, and MTR Corporation, the Phase 13 project sold 16 units over three days, generating over HK$120 million .
Key Points
- Buyer demographics reveal approximately 70% are local young families, 25% mainland professionals, and 5% foreign talents
- About 65% of buyers originate from Tseung Kwan O district itself, with 35% coming from other areas
- The project has attracted 20 large-volume investors purchasing units for rental income purposes
- Rental yields range from HK$45 to HK$50 per square foot, with premium sea-view units exceeding HK$50 per square foot
- Location near Hong Kong University of Science and Technology and international schools drives strong tenant demand
Why It Matters
The project's success highlights sustained demand for new developments in Hong Kong's New Territories, particularly in areas with excellent transport connectivity. The upcoming Route 6 linking to West Kowloon and the Express Rail Link station will further enhance Tseung Kwan O's appeal, potentially boosting property values and rental demand across the district .