All 260 new flats at Ho Man Tin sold out | HK Weekend Property Market Recap

Located in Ho Man Tin, the rail-linked project sold all 260 available flats last Saturday.

Prices for these units ranged from HK$17,759 to HK$25,866 per square foot, making it the cheapest new development in the area in nearly eight years, with prices starting at HK$6.89 million.

Overall, the project received 7,500 checks, making it 28 times oversubscribed.

To maintain sales momentum, the developer launched an additional 150 flats for Onmantin’s Phase IIB project on Monday, and 134 units on Tuesday, at increased prices.

Flats on the fourth price list range from HK$7.01 million to HK$19.4 million, or HK$18,597 to HK$28,350 per square foot after discounts, at an average price of HK$22,122 per square foot post-discount.That represents a roughly 10 per cent increase over the discounted per square foot price in the first price list.

According to analysts, however, buyers are primarily attracted to the discounted prices of new projects. Given the wide range of choices available, they may consequently be less accepting of price increases.

The project’s second round of sales will take place this Saturday, offering 248 units through a price list, with ticket collection closing today. Additionally, there will be a special session for major buyers, allowing them to select up to eight units.