HK developers sell 27 flats over the weekend

Sales volumes hold steady.

With no new launches, primary home sales volumes remained stable, Barclays reported.

According to the Hong Kong Economic Journal, developers sold 27 flats over the past weekend. Given the lack of new launches, weekend sales were mainly from developers’ inventory.

Here’s more from Barclays:

Notable sales include five units at Sino/Hopewell’s The Avenue I in Wanchai, four units at HLD/NWD’s Double Cove in Ma On Shan, four units at SHKP’s Riva in Yuen Long, and three units at Henderson Land’s Harbour Pinnacle in Tsim Sha Tsui. 

In terms of upcoming new launches, Far East released the price list for the 106-unit Eivissa Crest in Western District. The first price list contains 52 units with the headline SFA price at HK$24,949psf on average, according to the Hong Kong Economic Journal. 

With up to an 18.5% discount, the net effective price could be as low as HK$20,334psf. This is close to prices of recent launches in the district, such as Eight South Lane, High West and The Summa, which were priced at HK$20,000-25,000psf. 

However, it is around 30% higher than the secondary transaction price (HK$15,000-16,000psf) for The Belcher’s and Belcher’s Hill nearby.