{"id":25218,"date":"2021-09-15T08:55:15","date_gmt":"2021-09-15T01:55:15","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25218"},"modified":"2021-09-15T08:55:15","modified_gmt":"2021-09-15T01:55:15","slug":"hong-kong-new-home-sales-on-track-to-reach-record-of-1800-units","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/hong-kong-new-home-sales-on-track-to-reach-record-of-1800-units\/","title":{"rendered":"Hong Kong new home sales on track to reach record of 1,800 units"},"content":{"rendered":"

The city\u2019s strong buying interest made the flats an easy sale\u00a0<\/span>\u00a0<\/span><\/p>\n

\"\"
More property buyers are scurrying to the market to\u00a0get ahead of potentially higher mortgage rates and rising prices. leungchopan\/Shutterstock<\/figcaption><\/figure>\n

According to South China Morning Post<\/a>,\u00a0Hong Kong\u2019s home market continued to boom as buyers purchased 88 percent of the 455 flats listed in one of the\u00a0largest\u00a0sales weekends this year,\u00a0putting the city\u00a0en\u00a0route to a record month in September.\u00a0<\/span>\u00a0<\/span><\/p>\n

Sun Hung Kai Properties (SHKP)\u00a0<\/span>posted a\u00a0<\/span>fourth consecutive weekend of bumper sales\u00a0<\/span>at its Wetland Seasons Bay project in Tin Shui Wai,\u00a0with 4,062 bidders competing for the\u00a0212 apartments\u00a0sold.<\/span>\u00a0<\/span><\/p>\n

At Wong Chuk Hang,\u00a0<\/span>Kerry Properties\u00a0<\/span>sold 185 fla<\/span>ts\u00a0from the project\u00a0it\u2019s jointly developing with\u00a0<\/span>Sino Land\u00a0<\/span>and MTR Corporation.<\/span>\u00a0<\/span><\/p>\n

\u201cStrong buying interest made the flats an easy sale,\u201d said Sammy Po Siu-ming, chief executive of Midland Realty\u2019s residential department. \u201cOptimism in the city\u2019s property market helps developers sell nearly all the new flats hitting the market this month.\u201d<\/span>\u00a0<\/span><\/p>\n

With the local monetary authority expected to raise interest rates in\u00a0practise\u00a0with the US Federal Reserve\u2019s tapering policy,\u00a0more property buyers are scurrying to the market to\u00a0get ahead of potentially higher mortgage rates and rising prices.\u00a0<\/span>\u00a0<\/span><\/p>\n

Some investors are considering putting their capital in fixed assets at a time of near-zero interest rates.\u00a0<\/span>\u00a0<\/span><\/p>\n

Hong Kong\u2019s sales of newly completed homes in September are on track to reach a record 1,800 units,\u00a050 percent higher\u00a0than in\u00a0August.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Hong Kong luxury home rental sector recovers after 16% drop in last 2 years<\/strong><\/a><\/p>\n

Last weekend, almost 92 percent of the 588 new flats listed were sold, with 9,800 people registering their purchasing interests.\u00a0<\/span>\u00a0<\/span><\/p>\n

Meanwhile, the second-hand market predicts about 5,500 lived-in homes to be transacted, unchanged from August.\u00a0<\/span>\u00a0<\/span><\/p>\n

\n
\n
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The Property Report editors\u00a0<\/span>wrote<\/span>\u00a0this article. For more information, email:\u00a0<\/span><\/span>propertyreport@propertyguru.com<\/span><\/span><\/a>.<\/span><\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The city\u2019s strong buying interest made the flats an easy sale\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2336,889,171,650],"class_list":["post-25218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-bumper-weekend","tag-home-sales","tag-hong-kong","tag-housing-market","news_country-hongkong","news_author-property-report"],"acf":[],"yoast_head":"\nHong Kong new home sales on track to reach record of 1,800 units | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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