China Resources Land's Ruijing II Garners 30,678 Registrations, Nearly 200 Times Oversubscribed
SingTao · 2 SOURCESabout 4 hours ago2 MIN
Summary
China Resources Land's West Kowloon new development Ruijing II has recorded an exceptionally strong response, receiving 30,678 purchase registrations for its first-round sale of 153 units on Sunday, representing nearly 200 times oversubscription. The project, located in Southwest Kowloon, offers units priced between HK$5.43 million and HK$15.01 million after a 16% discount, with prices per square foot ranging from HK$16,930 to HK$21,747.
Key Points
- Ruijing II received 30,678 purchase registrations against 153 units released via price list on September 27, nearly 200 times oversubscribed
- Buyer composition: approximately 20% bulk buyers and investors, 30% local families, 20% upgraders, and 30% mainland buyers, international talent, and overseas returnees
- Entry unit is Unit D on 5/F of Block 5B, a 307 sq ft one-bedroom at HK$5.426 million (HK$17,674 psf); premium unit is Unit B on 26/F of Block 5A, a 730 sq ft three-bedroom at HK$15.008 million (HK$20,559 psf)
- Sales arrangement divides buyers into Group A (bulk buyers purchasing 2-4 units from 90 designated units) and Group B (individual buyers purchasing 1-2 units from remaining stock)
- Project is Block 5 of the overall development with 407 units; expected completion December 25, 2028, offering approximately 27-month tenure
Why It Matters
The exceptional oversubscription rate for Ruijing II reflects continued robust demand in Hong Kong's primary residential market, particularly for developments offering competitive pricing against secondary market alternatives. The strong presence of mainland buyers and overseas talent indicates Hong Kong's sustained appeal to cross-border purchasers amid ongoing market dynamics. This performance may influence pricing strategies for upcoming new project launches, including SIERRA SEA Phase 2C(2) in Sai Kung and Wong Xuan in North Point, which are also expected to generate significant buyer interest .
The exceptional oversubscription rate for Ruijing II reflects continued robust demand in Hong Kong's primary residential market, particularly for developments offering competitive pricing against secondary market alternatives. The strong presence of mainland buyers and overseas talent indicates Hong Kong's sustained appeal to cross-border purchasers amid ongoing market dynamics. This performance may influence pricing strategies for upcoming new project launches, including SIERRA SEA Phase 2C(2) in Sai Kung and Wong Xuan in North Point, which are also expected to generate significant buyer interest .