Yuexiu Keng Hoi I Price List Attracts 6,000 Inquiries, Agents Predict Sellout
AM730 · 8 SOURCESabout 8 hours ago2 MIN
Summary
Yuexiu Property (Stock code: 123) released the inaugural price list for Phase 1 of its Keng Hoi residential development in Yau Tong on Tuesday, offering 128 units at net prices starting from HK$3.76 million with an average net price of HK$13,988 per square foot. The project has garnered over 6,000 inquiries since its naming, with show flats opening to the public on Wednesday and sales registration commencing on October 1. Property agents widely predict the first batch will sell out completely, citing the competitive pricing which represents nearly 30% discount to similar unsold units in the district.
Key Points
- Yuexiu Property's Keng Hoi I project at 23 Tung Yuen Street, Yau Tong comprises 5 residential towers across 3 phases with a total of 1,339 units
- Phase 1 (Keng Hoi I) offers 617 units in Towers 3 and 5, with usable areas ranging from 242 to 721 square feet
- The inaugural price list covers 128 units (78 one-bedroom, 50 two-bedroom), with net prices from HK$3.7594 million to HK$7.1101 million
- With maximum 18% discount applied, net price per square foot ranges from HK$13,008 to HK$15,423, averaging HK$13,988
- Entry-level one-bedroom at Tower 3, 3/F, Unit E (289 sq ft) sells for HK$3.7594 million at HK$13,008/sq ft
- The project received over 6,000 inquiries from young professionals and family buyers, with show flats opening Wednesday and bookings from October 1
- Four payment methods are available, including 90-day, 180-day, 300-day cash plans and construction-linked payment plan
- Agents predict the first batch will sell out given prices are ~30% below comparable unsold units in the district
- Expected rental yield exceeds 4% given prevailing market rents of HK$45-55 per sq ft in Yau Tong
Why It Matters
Keng Hoi I's aggressive pricing strategy at HK$13,988/sq ft average has set a new benchmark for the Kowloon East residential market, with agents noting this represents the lowest average price for a new Kowloon City development in a decade. The project's combination of competitive pricing, MTR connectivity via Yau Tong Station, and attractive rental yields is likely to intensify competition among developers in the eastern Kowloon corridor during the traditionally active October sales season .
Keng Hoi I's aggressive pricing strategy at HK$13,988/sq ft average has set a new benchmark for the Kowloon East residential market, with agents noting this represents the lowest average price for a new Kowloon City development in a decade. The project's combination of competitive pricing, MTR connectivity via Yau Tong Station, and attractive rental yields is likely to intensify competition among developers in the eastern Kowloon corridor during the traditionally active October sales season .