Hong Kong’s weekend homebuyers balk at Henderson’s The Holborn amid supply increase
South China Morning Post
Excerpt
Sep 19, 2021
Hong Kong homebuyers were hesitant on the second day of weekend property sales on Sunday, amid an increase in supply that had left them with more options.
Henderson Land Development had sold 60 flats – or 47 per cent – of the first 128 units on offer at The Holborn project in Quarry Bay as of 5.40pm, according to real estate agents. Sales at the Mangrove and La Marina projects a day earlier were brisk, defying banks’ jitters and helping developers to clear 94 per cent of the stock.
The batch up for grabs at The Holborn was priced at an average price of HK$28,888 (US$3,711) per square foot. The 224 sq ft to 260 sq ft flats range in price from HK$5.8 million to HK$8 million. The price was not at a discount to the market rate, which probably had not helped the sale, said Sammy Po Siu-ming, CEO of Midland Realty’s residential division.
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