Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer, has priced the next batch of units on offer at its massive Sierra Sea residential project about 5 per cent higher than previous phases, signalling a welcome improvement in the city’s housing market.
The 148 units in Phase 2A of the development in Sai Sha Wan, Sai Kung, were priced from HK$3.43 million (US$440,961), with an average discounted price of HK$10,968 per square foot, according to sales documents released on Tuesday.
The latest launch follows earlier offerings this year, which all sold out , and underscored the developer’s confidence in homebuyers’ appetite amid a rebound in market sentiment.
The new batch comprises flats with saleable areas ranging from 297 to 700 sq ft. It comprises five one-bedroom units, 122 two-bedroom flats and 21 three-bedroom units.
That reflected SHKP’s continued focus on family-sized flats, as more than 85 per cent of primary home sales this year were smaller units.
Buyers paying cash were eligible for a 15 per cent discount, which brought discounted prices to between HK$3.42 million and HK$8.31 million. Discounted prices per square foot ranged from HK$10,018 to HK$13,776.
