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Hong Kong homebuyers snap up most units at Henderson Land’s The Upper South
- About 41 out of a first batch of 45 units on sale were sold by the evening
- The sales performance is good, as people are optimistic about the economy, Covid-19 containment, says Sammy Po of Midland
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Hong Kong homebuyers snapped up new flats on Sunday on optimism about a recovery in the city’s economy.
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Out of a first batch of 45 units on sale at Henderson Land’s The Upper South in Ap Lei Chau, 41 – or about 91 per cent – were sold by the evening, according to agents. The batch, which included 20 studios and 25 one-room flats, went on sale at 2pm.
“The sales performance is good, as people are optimistic about the economy in the second half of this year, when the GDP is expected to rebound and the Covid-19 situation is expected to be under control in Hong Kong,” said Sammy Po, chief executive of the residential division at Midland Realty, the project’s sales agent.
The sales came after a gradual recovery in Hong Kong’s economy, which pushed up the prices of lived-in homes in April to their highest level since July 2019. Growth in the city’s gross domestic product rebounded to a higher-than-expected 7.8 per cent, a 11-year high, in the first quarter. The city’s
unemployment rate has also declined, as the local Covid-19 outbreak recedes.
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Meanwhile, a lottery for fully vaccinated permanent residents of the city organised by property groups has helped with the take up of Covid-19 vaccinations, which is expected to further help property sales.
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