Latest news with #Sino Land
South China Morning Post
2 days ago
- Business
- South China Morning Post
Hong Kong developers put more than 200 flats on sale amid interest-rate optimism
Hong Kong developers are selling more than 200 residential units on Friday, taking advantage of improved buying sentiment fuelled by anticipation that interest rates will start to fall as early as next month. Two projects account for most of the available homes. A consortium led by Sino Land will sell 109 units at Villa Garda II in Tseung Kwan O: 60 units via public sale at prices ranging from HK$25,828 to HK$31,874 per square foot after discounts, plus 49 units via tender. In Kai Tak, China Overseas Land & Investment, Henderson Land Development, K Wah International and Wharf (Holdings) will offer the first batch of 66 units at Victoria Voyage at an average price of HK$29,628 per square foot after discounts. Housing market sentiment in Hong Kong has shown early signs of recovery, with overall home transactions hitting a seven-month high in June, and developers expect anticipated interest-rate cuts to further motivate buyers. Buying interest in the first-hand market improved in the first seven months of the year, with 5,981 flats sold, according to Midland Realty. 'This represented 64.2 per cent of the units launched by developers', versus 57.8 per cent in all of 2024, said Buggle Lau Ka-fai, Midland's chief analyst and head of research.
South China Morning Post
3 days ago
- Business
- South China Morning Post
Sino Land wins Tuen Mun land tender with HK$1 billion bid amid an improved housing market
The transaction, which marked the Hong Kong government's first residential plot sale this financial year, involved a site at Hoi Chu Road in Tuen Mun, a district in proximity to Shenzhen Bay. 'The sought-after site presents enormous potential,' Sino Land executive director Victor Tin said on Wednesday. 'With beautiful sea views, proximity to the Greater Bay Area and superb accessibility, it is an excellent addition to our land bank.' 'We plan to build quality residences, complete with fine craftsmanship and smart-home designs,' Tin said. 'Residents would also enjoy an exquisite clubhouse, replete with thoughtful provisions and wellness amenities.' The land sale reflects renewed optimism in Hong Kong's housing market amid early signs of a recovery and an anticipated interest rate cut later this year.
