Western Mid-Levels' Babington Hill Breaks 3-Year Silence: 6 Luxury Units Sold at Record Low Prices!

The primary property market has shown solid momentum in recent months, with several developments recording their first transactions after years of inactivity. Babington Hill, developed by Sun Hung Kai Properties (0016) and New World Development (0017), located in West Mid-Levels, Hong Kong Island, recently achieved its first sales in three years. Six two-bedroom units were sold through tender, with prices ranging from HK$12.03 million to HK$14.38 million, generating a total revenue of approximately HK$80.8 million.

According to transaction records, the six units sold ranged between 493 and 614 square feet, with prices per square foot ranging from HK$21,500 to HK$24,406. The lowest-priced unit was located on the 18th floor, Unit D, with a saleable area of 493 square feet. It was sold for HK$12.03 million, setting a record low for the project at HK$24,406 per square foot.

This marks the first recorded transactions for Babington Hill since May 2022, making it the first sales activity for the development in three years. Babington Hill, which offers a total of 79 units, was first launched in January 2018 with an initial average discounted price of HK$32,200 per square foot.

The recent sales reflect the impact of global economic uncertainties and changing market conditions.

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