Over the past weekend, primary market sales remained active. The second phase B of West Sands SIERRA SEA sold another 218 units and recorded several bulk purchases by buyers; luxury properties also saw transactions, with two units exceeding 1,000 square feet sold via tender at Mid-Levels’ The Ample last Saturday. Meanwhile, the secondary housing market was affected by traditional festival factors, resulting in transaction volumes dropping to single digits on a weekly basis.
The third round of sales for Phase 2B of West Sands SIERRA SEA, developed by Sun Hung Kai Properties (00016.HK), was completed over the past weekend, with 218 price-listed units sold. Among Group A buyers, seven groups purchased four units each, with the largest buyer acquiring two two-bedroom units and two three-bedroom units, investing over HKD 32 million. Additionally, nine groups of buyers purchased three units each.
The project also tendered six special units yesterday (August 8), mainly platform and garden units. The unit with the highest price per square foot was Unit G on G1 floor of Block 2, with a usable area of 384 square feet and a 304-square-foot garden, priced at HKD 7.3 million with a per-square-foot price of HKD 19,010. The most expensive unit was Unit F on the first floor of Block 1, a three-bedroom layout with a 250-square-foot platform, priced at HKD 10.112 million with a per-square-foot price of HKD 15,800.
Phase 2B of Sierra Sea has sold 755 units, generating over HKD 4.7 billion for the group. The entire Phase 2 of Sierra Sea has sold more than 1,460 units, bringing in over HKD 9 billion for the group. The entire Sierra Sea project has ‘broken records five times, creating history,’ with all units sold out on the first day during its 12 rounds of sales, totaling over 3,000 units sold and generating over HKD 17 billion.
Sun Hung Kai Properties announced that it would accelerate the launch of Phase 2C before the end of the year, involving approximately 500 units. Additionally, the group may launch a project near Tsuen Wan’s West Rail Station after the Lunar New Year.
The Ample, developed by Pacific Century Premium Developments Limited (00432.HK) and Capital Strategy Property Development (00497.HK), tendered and sold Unit A on the 18th floor and Unit A on the 20th floor last Saturday. Both units are three-bedroom layouts with a helper’s room, featuring a usable area of 1,029 square feet. The transaction prices were HKD 43.9383 million and HKD 45.0702 million, respectively, with per-square-foot prices of HKD 42,700 and HKD 43,800.
Additionally, the developer announced the first release of high-rise four-bedroom units in the project, specifically Unit A on the 26th floor, which will be tendered this Tuesday (August 10). This unit features a four-bedroom layout with two en-suite bathrooms, a dressing room, and a helper’s room, with a usable area of 1,608 square feet.
Swire Properties’ (01972.HK) Hai Tak Garden in Chai Wan sold another nine two-bedroom open-kitchen units last Saturday, with a usable area of 538 square feet. After discounts, prices ranged from HKD 8.42 million to HKD 8.941 million, with per-square-foot prices ranging from HKD 15,651 to HKD 16,619. One notable bulk purchase involved a buyer acquiring two two-bedroom units.
Kai Tak’s Park Villa III, a collaboration between New World Development (00017.HK) and Far East Consortium International Limited (00035.HK), cumulatively sold seven units last Saturday, generating HKD 66.134 million, with an average per-square-foot price nearing HKD 22,000. Notably, Unit C on the 21st floor of Building 1 in Park Villa III, with a usable area of 579 square feet and a three-bedroom suite design, sold for HKD 15.558 million, setting a new per-square-foot record for the project at HKD 26,870.
Moreover, Huang Zhu Kong II, a collaborative development by New World Development, Empire Group, Capital Strategy Property Development, Lai Sun Development (00488.HK), and MTR Corporation (00066.HK), consecutively sold two two-bedroom units last weekend, both featuring a two-bedroom crystal kitchen design, generating over HKD 26 million. These include Unit G on the 42nd floor of Block 2, with a usable area of 496 square feet, sold for HKD 13.191 million at HKD 26,595 per square foot, and Unit H on the 40th floor of Block 2, with a usable area of 494 square feet, sold for HKD 12.828 million at HKD 25,968 per square foot.
In the secondary market, the ten major housing estates under Centaline Property recorded eight transactions last weekend, a sharp decline of 57.9% week-on-week, representing the lowest level in five weekends.
Centaline Property’s Asia-Pacific Vice Chairman and President of Residential Division, Ricky Chan Wing-kit, noted that as the Lunar New Year approaches, the secondary market traditionally slows down, with citizens busy with cleaning and preparing for the holiday, temporarily halting buying and selling activities. The overall trading sentiment in the property market remains positive, with the third round of sales at Sea Sierra Phase 3 being sold out on the same day. Over the past nine months, the project has sold more than 3,000 units. The primary market is experiencing robust sales, confirming the “mini-spring” rally, and it is expected that the strong market conditions will continue.
According to statistics from Midland Realty branches, the ten major housing estates recorded approximately nine sales transactions over the past weekend, marking a decline of about 55% from the 22-month high of around 20 transactions recorded the previous weekend, and returning to single-digit levels, hitting a seven-week low. If calculated based on the fifteen major housing estates, there were about ten transactions, representing a weekly decrease of approximately 60%.
Senior Director of Midland Realty, Bosco Lam Siu-ming, stated that new projects continue to be well-received, with the third round of sales at Sea Sierra Phase 2B achieving another sell-out on the same day, reflecting strong buyer demand. Additionally, new projects across various districts are preparing to launch after the Lunar New Year, which are expected to become the market’s focus. He predicted that secondary market trading volume would remain subdued due to the festive atmosphere in the short term but will gradually return to normal after the Lunar New Year. Property prices will continue to see support and are expected to rise steadily.
Ricacorp Properties recorded nine secondary market transactions in the ten major housing estates last weekend, a 50% drop from 18 transactions the previous weekend, returning to single-digit levels.
