Market Chatter: Sun Hung Kai Properties Sells Out 128 Sierra Sea Flats at Discounted Prices

MT Newswires Live10-22 17:51

Sun Hung Kai Properties (HKG:0016) sold all 128 flats offered at listed prices in the latest batch of its Sierra Sea project in Hong Kong's New Territories by Wednesday evening, the South China Morning Post reported Wednesday, citing agents.

The flats were priced from HK$5.47 million to HK$9.87 million, with discounted prices starting at HK$12,714 per square foot. The developer also offered 24 units by tender, with another 19 set to be offered from Saturday.

Long-term investors accounted for 60% of the clients buying flats in the latest batch, with some planning to purchase multiple units for rental income, the report said, citing Centaline Property Agency.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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