"Sierra Sea" Phase 2B in West Sands sold another 218 units, with transaction volume in the top ten housing estates dropping before the Lunar New Year

Last weekend, the primary sales continued, with the second phase of Sierra Sea selling 218 units and recording multiple large buyers; luxury homes also saw transactions, with two units over 1,000 square feet sold at auction at Mid-Levels, Central last Saturday. As for the secondary market, it was dragged down by traditional holiday factors, with the number of transactions falling to single digits on a weekly basis.

New World Development (00016.HK) completed the third round of sales for the second phase of Sierra Sea, selling a total of 218 priced units. In Group A, 7 groups of customers purchased 4 units, with the largest buyer acquiring 2 two-bedroom units and 2 three-bedroom units, spending over HKD 32 million. Additionally, 9 groups of customers bought 3 units.

The project also auctioned 6 unique units yesterday (8th), focusing on platform and garden units. The unit with the highest price per square foot was Unit G on the 2nd floor of Block G, with a usable area of 384 square feet and a 304 square foot garden, priced at HKD 7.3 million, with a price per square foot of HKD 19,010; the highest selling unit was Unit F on the 1st floor of Block 1, which is a 640 square foot three-bedroom layout with a 250 square foot platform, sold for HKD 10.112 million, with a price per square foot of HKD 15,800.

The second phase of Sierra Sea has sold 755 units, generating over HKD 4.7 billion for the group. The entire second phase of Sierra Sea has sold over 1,460 units, generating over HKD 9 billion for the group. The entire Sierra Sea project has "broken records and created history," with 12 rounds of sales where each priced unit sold out on the first day, totaling over 3,000 units sold and generating over HKD 17 billion.

New World Development announced that it will accelerate the launch of the third phase (2C) before the end of the year, involving about 500 units. Additionally, the group may launch a project near Tsuen Wan West Rail Station after the Lunar New Year.

The Mid-Levels project, developed by Yingda Real Estate (00432.HK) and Capital Strategy (00497.HK), sold Unit A on the 18th floor and Unit A on the 20th floor at auction last Saturday, both being three-bedroom layouts with a study, with a usable area of 1,029 square feet. The transaction prices were HKD 43.9383 million and HKD 45.0702 million, with prices per square foot of HKD 42,700 and HKD 43,800.

Additionally, the developer announced the first launch of high-floor four-bedroom units in response to market demand, with Unit A on the 26th floor to be auctioned this Tuesday (10th). This unit features a four-bedroom dual master layout with a dressing room and study, with a usable area of 1,608 square feet.

Swire Properties (01972.HK) sold another 9 two-bedroom open kitchen units at Chai Wan Hyde Park last Saturday, with a usable area of 538 square feet, priced from HKD 8.42 million to HKD 8.941 million after discounts, with transaction prices per square foot ranging from HKD 15,651 to HKD 16,619. Among them, there was a large buyer who purchased two two-bedroom units Kowloon Bay's Park Vista, a collaboration between New World (00017.HK) and Far East Consortium (00035.HK), sold 7 units last Saturday, cashing out a total of HKD 66.134 million, with an average price per square foot of nearly HKD 22,000. Among them, Unit C on the 21st floor of Block III has a usable area of 579 square feet, designed as a three-bedroom suite, with a transaction price of HKD 15.558 million, and a price per square foot of HKD 26,870, setting a new high for the project.

Additionally, the Wong Chuk Hang's Morning Star II, developed in collaboration by New World, Empire Group, Capital Strategies, Lai Sun Development (00488.HK), and MTR (00066.HK), sold 2 two-bedroom units over the past weekend, both featuring a two-bedroom crystal kitchen design, cashing out over HKD 26 million. This includes Unit G on the 42nd floor of Block II, with a usable area of 496 square feet, sold for HKD 13.191 million, at a price per square foot of HKD 26,595; and Unit H on the 40th floor of Block II, with a usable area of 494 square feet, sold for HKD 12.828 million, at a price per square foot of HKD 25,968.

In the secondary market, Centaline Property recorded 8 transactions in its top ten estates over the past weekend, a sharp drop of 57.9% week-on-week, marking a new low for five weekends.

Centaline Property's Asia Pacific Vice Chairman and Residential Division President, Chan Wing Kit, stated that as the Lunar New Year approaches, the secondary market is quiet, with citizens busy with spring cleaning and preparing for the holiday, pausing trading activities. The overall trading atmosphere in the property market is improving, with the third round of sales for the new project in Xisha selling out again on the same day, accumulating over 3,000 units sold in 9 months, indicating a hot primary market. The "small spring" has been confirmed, and the booming market is expected to continue.

According to statistics from Midland Realty, the top ten estates recorded about 9 transactions over the past weekend, down approximately 55% from about 20 transactions the previous weekend, which was a 22-month high, returning to single-digit levels, marking a low for 7 weekends. When considering the fifteen major estates, approximately 10 transactions were recorded, a week-on-week decrease of about 60%.

Midland Realty Senior Director, Bo Siu Ming, stated that new projects continue to be popular, with the third round of sales for Sierra Sea 2B achieving immediate sell-out results, reflecting strong buyer demand. New projects in multiple districts are also preparing for the market after the Lunar New Year, expected to become the market focus. He anticipates that the volume of secondary transactions will still be affected by the festive atmosphere in the short term, but will gradually return to normal after the Lunar New Year, with property prices still showing support and continuing to trend upward.

The top ten estates in Li Ka Shing recorded 9 secondary transactions over the past weekend, down 50% from 18 transactions the previous weekend, returning to single-digit levels