N環球 
Hong Kong Buyers Snap Up 290 New Flats in Weekend Sellout
Two new Hong Kong projects — State Residence in North Point and The Sterling II in Southwest Kowloon — sold all 290-plus launch-day units over the weekend as buyers rushed in ahead of expected local rate rises.
Why it matters
Two new projects selling out on launch day — with one drawing more than 149 times its units in subscriptions — is the strongest signal yet that Hong Kong buyers are rushing to lock in mortgages before local interest rates rise.
Full report
On Saturday, Sept 26, State Residence （皇璇） in North Point at 1 Hope Street, developed by Sky Ace Enterprises under Chow Tai Fook, released 140 units — all sold on the day. The one- to three-bedroom flats range from 28 to 56 square metres (301–603 sq ft), with discounted prices from HK$5.96 million.
On Sunday, Sept 27, The Sterling II （叡璟 II） in Southwest Kowloon, developed by China Land Resources under China Resources Land, released 153 price-list units — also all sold on the day. The flats range from 28.5 to 67.8 square metres (307–730 sq ft), with discounted prices from HK$5.426 million to HK$15.008 million; another 35 units were offered by tender.
Together, more than 290 units sold out on launch day. The backdrop: after the US Federal Reserve's recent rate hike, Hong Kong's major banks held their rates steady, and buyers rushed to enter the market before local rates rise. Ricacorp research head Derek Chan Hoi-chiu （陳海潮） said many buyers were actively buying ahead of a local rate increase; JLL's Norry Lee expects developers to speed up launches to avoid rate uncertainty.
Independent demand data confirms the heat: Centaline reported The Sterling II's first round drew more than 23,000 registrations — over 149 times the 153 price-list units.
💬 Comments
No comments yet. Be the first!