Wealthy Buyer Acquires Two Units at Sha Tin Project for Over HK$50 Million
SingTao · 1 SOURCESabout 1 hour ago8 MIN
Summary
CK Asset Holdings' Ming Day project in Sha Tin has attracted a major buyer, marking one of the most notable single-transaction deals in the recent new home market. The buyer, described as a local investor with substantial financial strength, acquired two units along with two parking spaces in a single transaction exceeding HK$50 million .
Key Points
- Wealthy local buyer purchases two 1,213-sq-ft four-bedroom units at CK Asset's Ming Day project in Sha Tin, plus two parking spaces, for over HK$50 million.
- Unit at Tower 2, 16/F sold for HK$22.473 million (HK$18,527 per sq ft); unit at Tower 2, 18/F sold for HK$22.932 million (HK$18,905 per sq ft).
- Harbour Pinnacle at Wong Chuk Hang sold four units via tender totaling approximately HK$200 million, including a 960-sq-ft unit at HK$45,766 per sq ft.
- Other transactions: Palazzo III platform unit at HK$29,998 per sq ft (2-bedroom record); One Prestige unit at HK$36,501 per sq ft; Long Trocade unit with outdoor space at HK$18,350 per sq ft.
- 39 units at Coastal Loggia II in Tseung Kwan O received a uniform 1% price increase, with discounted prices ranging from HK$6.975 million to HK$7.412 million.
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Why It Matters
The half-billion-dollar transaction at Ming Day signals robust purchasing power among Hong Kong's affluent buyers, reinforcing market confidence in the luxury residential segment. Coordinated price adjustments across multiple developments indicate developers' optimism about sustained demand in the high-end new home market.
This transaction demonstrates continued confidence among wealthy local buyers in Hong Kong's luxury new home market, even as broader economic uncertainties persist. The bundling of parking spaces with residential units reflects sophisticated investment strategies among high-net-worth purchasers. The coordinated price adjustments across multiple projects suggest developers remain optimistic about demand, potentially signaling a sustained recovery in the premium residential segment.
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Key Points
- Wealthy local buyer purchases two 1,213-sq-ft four-bedroom units at CK Asset's Ming Day project in Sha Tin, plus two parking spaces, for over HK$50 million.
- Unit at Tower 2, 16/F sold for HK$22.473 million (HK$18,527 per sq ft); unit at Tower 2, 18/F sold for HK$22.932 million (HK$18,905 per sq ft).
- Harbour Pinnacle at Wong Chuk Hang sold four units via tender totaling approximately HK$200 million, including a 960-sq-ft unit at HK$45,766 per sq ft.
- Other transactions: Palazzo III platform unit at HK$29,998 per sq ft (2-bedroom record); One Prestige unit at HK$36,501 per sq ft; Long Trocade unit with outdoor space at HK$18,350 per sq ft.
- 39 units at Coastal Loggia II in Tseung Kwan O received a uniform 1% price increase, with discounted prices ranging from HK$6.975 million to HK$7.412 million.
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Why It Matters
The half-billion-dollar transaction at Ming Day signals robust purchasing power among Hong Kong's affluent buyers, reinforcing market confidence in the luxury residential segment. Coordinated price adjustments across multiple developments indicate developers' optimism about sustained demand in the high-end new home market.