Hong Kong homebuyers snap up CK Asset’s new launch in Sha Tin, snubbing K Wah’s two-year old Kai Tak project
- CK Asset Holdings sold 86 out of 98 flats on offer at the El Futuro project in Sha Tin as of 9.30pm, with more than 800 buyers competing for each available unit
- At K Wah International’s two-year old project at the former Kai Tak airport site, the K. Summit complex found 42 buyers for the 211 flats on offer
Hong Kong’s homebuyers jumped at the chance for life in the luxury district of Sha Tin, snapping up a new residential project launched there, while giving their collective cold shoulder to a two-year old leftover development at the city’s former airport site.
CK Asset Holdings sold 86 out of 98 flats on offer at the El Futuro project in Sha Tin as of 9.30pm, with more than 800 buyers vying for every available apartment.
El Futuro, scheduled for completion in March 2023, is priced between HK$7.62 million and HK$27.64 million, or HK$15,599 to HK$22,537 per square foot, for apartments starting from 484 square feet to 1,226 sq ft (114 square metres). Buyers are eligible for priority purchase of car parking bays for HK$2.5 million each, or pay a monthly HK$5,500 fee for 12 consecutive months.
“The pricing is fairly attractive as it is below market rate,” said Sammy Po, chief executive of Midland Realty’s residential division. “It is in a traditional district of luxury homes, and it is attractive to customers because a budget of HK$8 million to HK$9 million can get you a two-room apartment.”
