Jade Vue II First-Round Sales Draw 200x Oversubscription Amid Strong Demand
AM730 · 3 SOURCESabout 2 hours ago4 MIN
Summary
China Resources Land (Overseas)'s Jade Vue Phase 2 (叡璟II) in West Kowloon launched its first round of 188 units on Sunday, drawing 30,678 applications for nearly 200 times oversubscription . Large buyers dominated the morning session, with four groups purchasing the maximum four units each, including one deal exceeding HK$41 million . By afternoon, the project had sold 24 units via tender for over HK$370 million, with agents reporting buyer attendance rates around 90 percent .
Key Points
- The project, located at West Kowloon's High-Speed Rail Arts and Cultural Core, offered 153 units via price list and 35 via tender, with discounts reaching up to 16 percent
- Group A (large buyers) purchased 72 units within two and a half hours, generating over HK$780 million and capturing 80 percent of available Group A inventory
- Four major buyer groups each acquired the maximum four units, with the largest single transaction totaling over HK$41.03 million for one three-bedroom suite plus workroom and three two-bedroom units
- As of 1pm, 24 Reserve Collection units sold via tender grossed over HK$370 million, with the highest price per square foot reaching HK$26,327 for a platform unit
- Centaline Property's Kowloon Director Lam Ying-lin noted over half of buyers were repeat applicants from Phase 1, with mainland professionals accounting for approximately 20 percent of purchasers