appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Cheryl Arcibal

Swire Properties has priced the first 120 units of a new residential project in Chai Wan at an average of HK$17,565 (US$2,249) per square foot, an 11-year low for Hong Kong Island’s Eastern district, according to agents.
The price list, released on Tuesday, covers more than a fifth of the 592 units in the second and third towers of the Headland Residences.
“We are encouraged by the strong market interest shown in this premium development since we introduced the sales gallery for viewing last week,” said Adrian To, Swire Properties’ director of residential. He added that an expected US rate-cutting cycle in the second half of the year would benefit Hong Kong’s property market.
The average discounted price for the Swire Properties project was lower than the first list for units in New World Development’s State Pavilia project in North Point, which was released in February. The price was an eight-year low for the Eastern district.
In August 2016, Sun Hung Kai Properties priced the first batch of flats in its Lime Gala project in Shau Kei Wan at an average of HK$17,732 per square foot.
“[Swire Properties’] offering is highly competitive, with prices comparable to nearby secondary property prices,” said Louis Chan Wing-kit, CEO of Centaline Property Agency. “It is anticipated that the first round of sales will sell out.”
The first price list included 20 units with one bedroom, 84 two-bedroom apartments and 16 flats with three bedrooms. Swire Properties said sizes ranged from 418 sq ft to 899 sq ft.
The units were available at regular prices ranging from about HK$7.54 million to around HK$22.9 million, or HK$18,033 to HK$25,452 per sq ft. The average regular price was HK$20,664 per sq ft.
Discounts would amount to as much as 15 per cent. Swire Properties has not disclosed when the sale will take place.
“Given the project’s quality and highly attractive pricing, it is believed to appeal to many users and investors,” said Jimmy Lee, a director at Midland Realty. “It is estimated that investors will account for about 30 per cent of the project’s buyers, with a projected rental yield of over 3.5 per cent.”
The Headland Residences is Swire Properties’ largest residential project in 20 years. The development’s 850 units will range in size from 400 sq ft to 1,400 sq ft. The three-tower project was developed with China Motor Bus.
Hong Kong’s residential property market has shown some signs of stability over the past few months. As of Monday, the number of new homes sold this year exceeded 13,000, or about 80 per cent of the total in 2024, Centaline’s Chan said.
“September will see several significant positive developments, including a US interest rate cut and a policy address, which are expected to further stimulate the Hong Kong property market,” he said.
Chan said new home sales in the city would hit a six-year high of more than 20,000 units this year.


Will AI adoption shrink office space? Asia-Pacific firms are on the fence in survey

Hong Kong property market gets reprieve on rates, but position remains precarious

Developer family’s deals highlight capital shift across Hong Kong property sectors

Kowloon Bay’s new Amoy Footbridge set to draw neighbourhood closer together

Hong Kong property

Swire Properties’ new project priced at 11-year low for Hong Kong’s Eastern district

A unit in Swire Properties’ Headland Residences in Chai Wan. Photo: Handout 

Swire Properties set to start selling Hong Kong’s largest residential project in 20 years

The Headland Residences comprises the two blue towers (centre) and the tower under construction to their left in this undated photo. Photo: Handout

A model flat in The Headland Residences. Photo: Handout

Hong Kong home sales on ‘upwards trajectory’ to 4-year high, agents say

Homebuyers queue at the sales office of the Blue Coast II project developed by CK Asset in Wong Chuk Hang, at Fortune Metropolis in Hung Hom on October 19, 2024. Photo: Jonathan Wong

A view of the Blue Coast project in Wong Chuk Hang. Photo: Google map

Business

Property

Hong Kong & China

Companies

News

Hong Kong

Hong Kong Economy

Headland Residences is Swire Properties’ largest residential project in 20 years


Headland Residences is Swire Properties’ largest residential project in 20 years.


Swire Properties’ new project priced at 11-year low for Hong Kong’s Eastern district

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Headland Residences is Swire Properties’ largest residential project in 20 years

Headland Residences is Swire Properties’ largest residential project in 20 years