The Sterling I to Unveil More Units as Market Demand Surges
Thestandard · 1 SOURCESabout 1 hour ago2 MIN
Summary
China Resources Land's (stock code: 1109) residential project The Sterling I in Southwest Kowloon is preparing to launch additional units as early as this weekend, capitalising on exceptional market interest. The development garnered over 2,700 enquiries within just 48 hours of releasing its inaugural price list, with subscriptions surpassing the 102 available first-batch units by more than 25 times. The project's sales office attracted more than 10,000 visitors, underscoring robust demand in Hong Kong's property market .
Key Points
- China Resources Land (1109) will roll out additional flats at The Sterling I as early as this coming weekend, with sales commencing the following week
- The project's first batch of 102 units recorded over 2,700 enquiries within 48 hours of the first price list release, representing an oversubscription rate exceeding 25 times
- The sales office received more than 10,000 visits since the launch of the first price list
- Upcoming new units will account for not less than 10 percent of the project's total residential supply
- A new price list may be released together with tender arrangements for the upcoming units
Why It Matters
The exceptional oversubscription at The Sterling I signals renewed confidence among homebuyers in Hong Kong's primary residential market. This strong demand could influence pricing strategies for other developers launching projects in the coming months, particularly in the Southwest Kowloon corridor where supply remains constrained .
The exceptional oversubscription at The Sterling I signals renewed confidence among homebuyers in Hong Kong's primary residential market. This strong demand could influence pricing strategies for other developers launching projects in the coming months, particularly in the Southwest Kowloon corridor where supply remains constrained .