Media365
Sun Hung Kai Properties (SHKP), the city’s biggest developer, put more than 200 units on sale at a residential project on Saturday amid hopes of a steady recovery in the city’s home market.
SHKP sold 78 flats out of 229 units on offer at the Sierra Sea project in Sai Sha Wan as of 1.30pm on Saturday, according to real estate agents.
The per-unit price ranged between HK$4.04 million (US$518,000) and HK$10.7 million, but with a 15 per cent discount the selling prices were from HK$3.44 million to HK$8.27 million. The flats, available in one to three bedrooms, measured from 297 sq ft to 700 sq ft in size.
The Sierra Sea project forms part of SHKP’s 9,700-unit Sai Sha development in Shap Sze Heung, located between Sai Kung and Ma On Shan. It is Hong Kong’s largest housing project since 1999.
Last weekend, SHKP sold all 213 units on offer at the same project, underscoring that demand was returning to the world’s most expensive property market after cuts in interest rates and stimulus measures from the city’s government.
Located far from the central business district, Sierra Sea has easy access to public transport, including bus routes and shuttle buses to a nearby subway station.
