Hong Kong buyers snap up all 180 of Road King’s South Land flats, as economic growth lifted moods
- Road King Infrastructure sold all 180 of its South Land flats at Wong Chuk Hang, repeating its sell-out weekend amid enthusiasm for the first mass property project atop a subway station in decades
- In Mong Kok, Sino Ocean sold 27 of the 45 flats on offer at its Uptify project, sales agents said
New homes on offer in Hong Kong over the weekend were greeted with fanfare and enthusiasm, as a stronger-than-expected growth pace in the city’s economy bolstered confidence and brought investors back into the property market.
Road King Infrastructure Limited sold all 180 of its South Land flats at Wong Chuk Hang, repeating its sell-out weekend amid enthusiasm for the first mass property project atop a subway station in decades. In Mong Kok, Sino Ocean sold 27 of the 45 flats on offer at its Uptify project, sales agents said.
“The sales results were not a surprise,” said Midland Realty’s residential division chief executive Sammy Po. “A high sales number was expected. Some units priced at more than HK$7 million (US$901,380) at Uptify were unsold because buyers were taking a wait-and-see attitude.”
The strong sales response underscores how the forecast-beating performance by Hong Kong’s economy had lifted sentiments. First-quarter economy expanded 7.8 per cent at the fastest pace in 11 years, beating economists’ forecasts while ending a six-quarter losing streak.
Hong Kong’s home prices have edged upwards in recent months as a rising number of vaccinations helped the city authorities get the Covid-19 pandemic under control.
