Media365
Homebuyers continued to signal confidence in Hong Kong’s residential market on Saturday, brushing off global economic risks tied to the Middle East conflict and expectations of slower interest rate cuts, as a new project by Henderson Land Development sold out within hours.
All 123 units at Chester, the fifth phase of the Midtown South redevelopment in Hung Hom, were snapped up, according to property agents.
“About 60 per cent of buyers are end users while about 40 per cent are investors and landlords,” said Sammy Po Siu-ming, senior director of Midland Realty. “Many tenants are expected to be professionals or mainland students drawn by its proximity to schools.”
“The sea view is also big draw, and with market sentiment still very strong, buyers’ willingness to enter the market remains high,” he added.
The flats, ranging from 265 to 534 sq ft, were priced between HK$18,882 (US$2,411) and HK$24,520 per square foot after discounts of up to 10 per cent.
Improved financing conditions have also supported demand.
