Hong Kong developers rushed to put more than 200 residential units on the market for sale on Friday, as they took advantage of the market’s anticipation of the first interest rate cut of 2025, which may take place as soon as mid-September.
Most of the flats were offered at two locations on the Kowloon peninsula. A consortium led by Sino Land put up 109 units of Villa Garda II in Tseung Kwan O at between HK$25,929 and HK$31,874 per sq ft after discounts.
Half a dozen smaller developers had a few dozen leftover homes from previous launches on the market.
Sino Land sold 48 of its 109 flats at Villa Garda II via public sale and private tender as of 6pm. The consortium had sold more than 560 flats at the project within one month.
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