After more than two years of new flats selling for less than second-hand units, the price gap has started to narrow, analyst says
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.
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.
