Wong Sun Project Launches First-Round Sale of 140 Units This Saturday, Starting at HK$5.96M
AM730 · 3 SOURCESabout 1 hour ago5 MIN
Summary
The North Point residential project Wong Sun (皇璇), developed by Tianfu Enterprises under Chow Tai Fook Group with New World Development (017) assisting in planning and promotion, has released its sales arrangement on Tuesday, September 22. The project will conduct its first round of price-list sales this Saturday, September 26, offering 140 units. After applying the maximum 21% discount, net prices range from HK$5.956 million to HK$15.305 million. The strong market response has seen over 5,800 intent registrations as of 3pm on Tuesday, translating to an over-subscription rate exceeding 40 times.
Key Points
- The 140 units in Saturday's sale include 67 one-bedroom, 66 two-bedroom, and 7 three-bedroom apartments, with saleable areas ranging from 301 to 602 square feet
- Net prices range from HK$5.956 million to HK$15.305 million, translating to net prices per square foot of HK$18,848 to HK$26,741, with an average net price per square foot of HK$21,666
- The project is located at 1 Hoi He Street, North Point, a single-tower development with 194 units in total, expected to complete by December 31, 2027
- Buyer registrations show over 65% from Hong Kong Island, with the remainder from Kowloon and New Territories, reflecting strong demand for scarce Hong Kong Island supply
- The sale is structured into five priority groups: X Group (priority tender unit nominees), A1 Group (2-6 units with specified requirements), A2 Group (2-4 units), A3 Group (1 specified unit), and B Group (1-2 units)
Why It Matters
Wong Sun's overwhelming market response underscores the persistent imbalance between supply and demand in Hong Kong's prime urban residential market, particularly on Hong Kong Island where new project supply remains scarce. The project's strong buyer interest from core district residents and long-term investors signals continued confidence in the stability of Hong Kong's property market, even as developers adjust pricing strategies with substantial discounts to attract buyers.
Wong Sun's overwhelming market response underscores the persistent imbalance between supply and demand in Hong Kong's prime urban residential market, particularly on Hong Kong Island where new project supply remains scarce. The project's strong buyer interest from core district residents and long-term investors signals continued confidence in the stability of Hong Kong's property market, even as developers adjust pricing strategies with substantial discounts to attract buyers.