Homebuyers flock to SHKP's new batch of Sierra Sea flats on sale as demand remains strong
Sierra Sea , a mega residential project of
Sun Hung Kai Properties (SHKP) in the New Territories, remained strong for the second consecutive weekend, as homebuyers took advantage of discounted prices that are about 20 per cent lower than those of similar properties in the district.
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As of 12pm on Saturday, Hong Kong's largest property developer already sold 123 of the second batch of 288 new flats put up for sale at Sierra Sea, according to property agents.
That comes a week after homebuyers snapped up all 318 of the first batch of flats made available by SHKP. In total, the developer has sold more than 400 Sierra Sea flats that it has put for sale since April 26.
'The project is so popular primarily because of its low price, which is 20 per cent cheaper than other properties in the same district,' said Sammy Po Siu-ming, chief executive of Midland Realty's residential division. 'Everyone believes the project has great potential for appreciation.'
The flats on sale this weekend – ranging in size from 301 sq ft to 702 sq ft – include 39 one-bedroom, 170 two-bedroom and 79 three-bedroom units. Prices for these units cost from HK$3.27 million to HK$8.99 million (US$422,000 to US$1.16 million), while the price per square foot is between HK$9,992 and HK$13,533.
A general view of Sun Hung Kai Properties' new Sierra Sea residential development at Sai Sha in the New Territories. Photo: Edmond So
About 20 to 40 per cent of the prospective homebuyers of Sierra Sea flats are from mainland China, according to property agents.
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