UNI Residence in Sha Tin Sells 187 Units for Over HK$1 Billion
Thestandard · 1 SOURCES1 day ago2 MIN
Summary
UNI Residence in Sha Tin, jointly developed by Vanke Hong Kong and Wing Tai Properties (0369), has achieved strong sales performance, with 187 units sold to date, nearly 80 percent of the project's total 240 units, generating over HK$1 billion in revenue. The developer sold 15 units over the weekend, bringing in over HK$100 million. With only 50 units remaining, the developer expects prices of the remaining units to be increased. The project has attracted a mix of end-users and investors, with current users accounting for 60 percent and investors taking up 40 percent. Mainland residents make up 40 percent of the buyers. The developer emphasized the project's rental potential due to its proximity to the East Rail Line.
Key Points
- UNI Residence in Sha Tin sold 187 of 240 units (nearly 80 percent) for over HK$1 billion, with 15 units sold over the weekend generating over HK$100 million
- Remaining inventory stands at 50 units, prompting the developer to plan price increases for the final batch
- Buyer composition comprises 60 percent end-users and 40 percent investors, with mainland residents accounting for 40 percent of total buyers
- Joint developers Vanke Hong Kong and Wing Tai Properties (0369) highlighted the project's rental potential linked to East Rail Line proximity
- The strong sales performance reflects sustained demand for new residential projects in Hong Kong's property market
Why It Matters
The robust sales performance of UNI Residence demonstrates continued strong demand for new private residential developments in Hong Kong, with mainland buyers playing a significant role in the market. The developer's decision to raise prices for remaining units signals confidence in the market's appetite for well-located properties near major transportation infrastructure.
The robust sales performance of UNI Residence demonstrates continued strong demand for new private residential developments in Hong Kong, with mainland buyers playing a significant role in the market. The developer's decision to raise prices for remaining units signals confidence in the market's appetite for well-located properties near major transportation infrastructure.