Property sales fall 44% to just 30 units

Most are leftover units.

Citing the Hong Kong Economic Journal (HKEJ), Barclays said primary sales over the weekend fell
44% w/w to 30 units, with the majority being leftover units.

Weekend sales include 6 units at Wang On’s The Met.Delight in Sham Shui Po, 5 units at NWD’s Park Signature and 4 units at SHKP’s Riva in Yuen Long.

Here’s more from Barclays:

Notably, Swire Properties launched the luxury project, Mount Parker Residences in Quarry Bay last week; however, the take-up was lukewarm. The first batch of 30 units was offered for sale last week, 32.6% of a total of 92 units.

These units were priced at HK$22,990psf (including a 4.25% discount), some 44-75% higher than secondary transaction prices in the area. 58 expressions of interest were received before the sale, but so far, only 20 units have been sold, 66% of total units offered.

Over the weekend, Swire Properties released the second price list of another 30 units with an average headline price of HK$23,915psf. With a 4.25% special discount, the net price is around
HK$22,898psf, 0.4% lower than the first batch.

As for SHKP’s Riva in Yuen Long, sales momentum remained strong, with around 92 units sold over the past week. To date, some 500 units (64% of a total of 780 units) were cleared with sales proceeds of HK$3.8bn.