Hong Kong Luxury New Home Market Thrives with HK$100 Million Plus Transactions
On.cc · 1 SOURCESabout 1 hour ago2 MIN
Summary
Hong Kong's luxury new residential market continues to show robust momentum, with several high-value transactions reported on Monday (June 17). The 21 BORRETT ROAD Phase 1 development in Mid-Levels recorded a HK$151 million sale for a four-bedroom dual master suite unit with two parking spaces, while ONE STANLEY in Stanley attracted repeat buyer interest as an existing owner purchased two additional garden units for HK$47.4 million. Meanwhile, secondary market activity included sales at Park Victoria III, Sea Reach Bay II, Flying Phase 1, and Yi Mu Phase 2, demonstrating broad-based demand across different segments of the luxury property sector.
Key Points
- The 21 BORRETT ROAD Phase 1 four-bedroom dual master suite unit with two parking spaces was sold for HK$151 million .
- ONE STANLEY's Phase 3, Block G/F Units A and B garden units, with saleable areas of 844 and 834 sq ft respectively, fetched HK$23.98 million and HK$23.42 million .
- A local seasoned investor, who previously acquired a sky specialty unit for over HK$40 million, purchased the two ONE STANLEY garden units using a 120-day payment plan for long-term investment .
- ONE STANLEY has sold 55 units totalling over HK$5.7 billion since launch, with five transactions recorded in the past week alone .
- Park Victoria III's four-bedroom river view unit sold for HK$24.28 million, with buyers attracted by the MTR Tai Wai Station upper cover location and large shopping mall .
- Sea Reach Bay II sold eight units on Monday, with the top unit at Block 5A, 31/F, Unit B (602 sq ft, sea view) fetching over HK$11.01 million or approximately HK$18,296 per sq ft .
- Sea Reach Bay series has sold 1,033 units for a total transaction value exceeding HK$8.9 billion .
- Yi Mu Phase 2 achieved a record price per sq ft of HK$33,000 when Unit K, 3/F, Block 2 (357 sq ft with 837 sq ft terrace) sold for HK$11.78 million .
Why It Matters
The sustained inflow of capital into Hong Kong's luxury new home market signals continued confidence among wealthy buyers despite broader economic uncertainties. These transactions underscore the resilience of demand for premium residential properties in prime locations, which could provide support for the overall property market sentiment and potentially influence future pricing trends in the luxury segment.
The sustained inflow of capital into Hong Kong's luxury new home market signals continued confidence among wealthy buyers despite broader economic uncertainties. These transactions underscore the resilience of demand for premium residential properties in prime locations, which could provide support for the overall property market sentiment and potentially influence future pricing trends in the luxury segment.