HK developers continue to launch new projects | HK Weekend Property Market Recap

Buyers rushed to snap up new homes at developments including Park Seasons, Lohas Park’s Phase 12B project.

However, despite continuing to price low, the project sold only 168 units in its first round last Saturday, failing to continue the momentum of Phase 12A, Seasons Place, which sold 117 units on the first day. Transactions at Season’s Place made up nearly 70% of the available units and cashed in over HK$7.11 billion.

Among the buyers at Park Seasons, a major mainland purchaser acquired five one-bedroom units in one go for over HK$20 million. The project sold an additional three units on Sunday, totaling 120 units for the past weekend.

A joint venture between Road King and Shenzhen Investment, Mori in Tuen Mun opened its show flats to the public last Saturday and sold 15 units, including a three-bedroom featured unit with a terrace, measuring 691 square feet, which was auctioned for HK$7.97 million.

China Resources Land (Overseas) and Poly Property also sold seven units at Pano Harbour in Kai Tak last Saturday. Overall, the first-hand market recorded about 170 transactions over the past weekend.