报道称，该楼盘的超额认购达到了142倍，Sun Hung Kai's new property, Skyhill·Sky, was completely sold out on the first day of opening. Mainland buyers accounted for 40% of the total, with the largest buyer spending 67.5 million Hong Kong dollars to buy 8 units in one go. The development received 29,161 orders within a week, claiming the crown of Hong Kong's property market sales champion this year, and setting the fifth highest sales record for a new property.
While the Hong Kong stock market welcomed an epic surge, the Hong Kong real estate market also boomed.
According to reports from Hong Kong media on the 6th, the new SHK PPT property in Kowloon, TPE starting price, sold at a loss of 0.0196 million Hong Kong dollars per square foot, received 29,161 orders within a week, took the crown for the best-selling property in the Hong Kong real estate market this year, and set the fifth highest sales record for new property developments.
The property's oversubscription reached 142 times, with all 204 units sold out on the first day of opening on the 5th. The commercial building showroom in Kowloon Station was extremely busy, with some big buyers known as 'pie customers,' and the largest buyer spent 67.5 million Hong Kong dollars to buy 8 units in one go. In addition, the last unit to be selected on the 5th was number 225, indicating that there are many people in the market who wanted to buy but did not succeed.
The SHK PPT property is located in the former Kai Tak Airport area in Hong Kong, with a total of 906 residences. Among the first buyers at the opening, in addition to local residents and some big buyers, there are also many new Hong Kong residents.
A Mr. Ding, who speaks Mandarin fluently, said he has been working in Hong Kong for many years and has a Hong Kong ID card. He and his family currently rent a house on Hong Kong Island, and this is his first time buying a house, spending about 30 million yuan to buy 3 units, which he may consider for investment besides living in. He mentioned that the property's location is convenient for his commute and meets his needs. He plans to actively purchase considering the positive stock market performance and its potential impact on the real estate market, combined with his own housing needs.
Mr. Ding mentioned that the property's location is convenient for his commute and meets his needs. He plans to actively purchase considering the positive stock market performance and its potential impact on the property market, combined with his own housing needs.
The CEO of A-REIT Residential Department, Mr. Bu Shaoming, said that their clients are mainly from the Kowloon area, accounting for about half; clients from the New Territories account for around 30%; clients from Hong Kong Island account for about 20%. They expect the rental rate per square foot to reach 70 yuan after the completion of this property, with a rental return on investment of over 4%, attracting approximately 40% of investors. For self-occupying buyers, due to the relatively low entry barrier of the property, it is very popular among post-90s and post-00s, accounting for about half. Additionally, Kai Tak is the top choice area for many mainland Chinese coming to Hong Kong, and this time mainland buyers are also quite active, accounting for 40% of the overall buyers.
The reason why the first round of sales of Skywheel·Sky首 is so hot is that price is an important factor.
According to media reports, the first batch of 204 properties sold in this development are 20% cheaper than surrounding new real estate projects. Despite the recent reduction in mortgage rates in Hong Kong, boosting market confidence, developers still face the problem of housing oversupply, with the current backlog of property reaching the highest point in twenty years.
The Skywheel project is developed by Hong Kong's largest real estate developer SHK PPT on a site acquired at a high price of 25.2 billion Hong Kong dollars in 2018, setting a record at the time. At the current selling prices, developers may incur losses as the average selling price is 38% lower than the breakeven point of 0.032 million Hong Kong dollars per square foot.
It is reported that SHK PPT is still in the process of the second phase of construction for this project, with an expected construction of 584 residences.