Hung Hom The Hudson Records 60x Oversubscription, First Sales Friday
SingTao · 6 SOURCESabout 3 hours ago2 MIN
Summary
Sino Land's Hung Hom development The Hudson has attracted over 8,500 subscriptions for its first-round sale of 138 price-listed units, representing an oversubscription rate exceeding 60 times. The project, co-developed with China Merchants Land and the Urban Renewal Authority, priced units approximately 10 percent below comparable developments in the same district. Big buyers and investors accounted for 30 percent of subscribers, with some indicating interest in purchasing four to six units.
Key Points
- The Hudson will hold its inaugural sales on Friday (November 6), with subscriptions closing Thursday afternoon at 4pm, offering 138 price-listed units plus 12 units via tender
- As of Tuesday evening, the project received over 8,500 subscriptions, translating to an oversubscription ratio exceeding 60 times for the 138 price-listed units
- First-round units are priced between HK$5.98 million and HK$9.5718 million after maximum 15 percent discount, with net prices per square foot ranging from HK$16,959 to HK$20,991
- Among subscribers, approximately 70 percent are end-users while 30 percent are investors, with big buyers seeking four to six units and two-bedroom units of 380 square feet being most popular
- Hang Seng Bank is offering a three-year fixed-rate mortgage plan at 2.93 percent per annum, plus a green cash reward of up to HK$7,888
Why It Matters
The Hudson's strong market reception reflects renewed confidence in Hong Kong's new residential market, with attractive pricing drawing both end-users and investors back into the market. The high proportion of big buyers and investment-oriented purchasers signals potential capital appreciation expectations, which could influence broader market sentiment ahead of the traditional year-end buying season .
The Hudson's strong market reception reflects renewed confidence in Hong Kong's new residential market, with attractive pricing drawing both end-users and investors back into the market. The high proportion of big buyers and investment-oriented purchasers signals potential capital appreciation expectations, which could influence broader market sentiment ahead of the traditional year-end buying season .