Media365
Homebuyers continued to signal confidence in Hong Kong’s residential market on Saturday, with about three quarters of 248 new flats put up for sale snapped up by late afternoon.
A total of 53 out of 88 units were sold at The Pavilia Farm III, while 129 of 160 units at KT Marina II in Kai Tak were taken as of 4.30pm, according to Midland Realty.
The Pavilia Farm III, a project jointly developed by New World Development (NWD) and MTR Corp atop Tai Wai Station in Sha Tin, saw buyers throng the sales hall to snap up units offered for regular sale.
“Buoyed by the news of a US ceasefire announcement [in the Iran war], which has been positive for gold and equity markets, we believe the property market is no exception,” said Louis Chan Wing-kit, vice-chairman of Centaline Asia-Pacific and president of its residential division.
“Investor confidence has clearly strengthened. The Pavilia Farm III’s prime location, comprehensive lifestyle amenities, and the fact that it is already completed have attracted strong interest from both end users and investors,” Chan said.
Of the buyers, about 70 per cent were end users and 30 per cent investors, with mainland Chinese buyers accounting for about 20 per cent of the total. “Investors are optimistic about the area’s appreciation potential and robust rental demand,” Chan added.
