Market Tycoon Chow Buys Four More Sierra Sea Flats
SingTao · 1 SOURCES1 day ago4 MIN
Summary
Market tycoon Chow Hei-hung (周起鴻) returned to Sierra Sea in Sai Sha on October 21, buying four more flats in Phase 2C(2) for more than HK$30 million during the development’s second round of sales. He said he was pleased to enter the market with ballot number one and described the project as a strong offering, arguing that even after price increases it still compares favourably with other new developments. Chow said he has no immediate plan to sell his Sierra Sea holdings and intends to keep recently completed units for long-term leasing. He also said he remains confident about Hong Kong’s housing outlook, calling the city a “blessed place” and saying past downturns eventually turned around.
Key Points
- Sierra Sea Phase 2C(2) launched its second round of sales on October 21, when Chow bought four flats for more than HK$30 million.
- Chow said he was happy to secure entry with ballot number one, making him one of the notable bulk buyers that day.
- He said he had already bought multiple Sierra Sea units about half a year ago and also purchased in the first round of Phase 2C sales.
- According to Chow, prices half a year ago were exceptionally cheap, and even after rising, current pricing still looks low against rival projects.
- He said recently handed-over units will be kept for long-term rental, and he has no plan for near-term disposals to cash out.
Why It Matters
Chow’s repeat purchases add to attention on whether active investors still see value in Hong Kong’s primary residential market despite recent price adjustments. His decision to hold units for leasing rather than quick resale also points to continued interest in rental income strategies among buyers of new homes.