21-02-2025
- Business
- South China Morning Post
Henderson releases price list for Cheung Sha Wan residential project
Henderson Land Development released a price list for a residential project in Cheung Sha Wan – its second in a week – as Hong Kong property firms take advantage of improving sentiment and grapple with a large supply glut.
The first 80 flats in the 248-unit Belgravia Place II were priced at HK$15,968 per square foot on average, the developer said on Friday. In February 2024, the developer launched 148 units in a first phase at HK$19,493 per square foot.
But prices were about 10 per cent lower than the unsold stocks available in the same district, Centaline Property said.
The first phase of Belgravia Place II, with a total of 714 units, came after the city's government removed all long-standing property curbs in a budget address last year. All of the units that were made available in the first round in March were snapped up within four hours.
In the second phase, the 80 units include 11 one-bedroom, 23 two-bedroom and 16 three-bedroom units, ranging from 262 to 518 sq ft. The cheapest flat spans 262 sq ft and costs HK$4.09 million – or HK$15,602 per square foot after discount.
Market sentiment, according to Thomas Lam Tat-man, the general manager for the sales department at Henderson Land, has improved after the Lunar New Year. He said the property market was beginning an upswing and prices would rebound in the second or third quarter of 2025.
