<div id="readability-page-1">Hong Kong homebuyers snapped up new flats on offer on Saturday, fuelling optimism that the bull run in the city’s property market will continue. All 154 units at Sun Hung Kai Properties’ Lime Spark project sold out as of 4.30pm, while 147 homes, or 93 per cent of the 158 flats available at Henderson Land’s Highwood Phase 2 project, found buyers, according to real property agents. “Home prices have climbed by nearly 8 per cent this year, and prospective buyers are likely to find that a delay in purchasing will force them to pay higher prices,” said Louis Chan Wing-kit, vice-chairman of Centaline Asia-Pacific and president of its residential division. “The strong momentum has prompted them to make their [purchase] decisions sooner rather than later. In the primary market, we have seen a buying spree amid residents’ increasing demand for homes.” The sales frenzy on Saturday was in line with market expectations as Hong Kong’s home market had already shown signs of an upwards cycle early this year.  Property transactions surged to a four-month high in April, while the value and volume of home sales hit their highest level in 24 months, according to the latest official data from the Land Registry. A total of 8,692 transactions across homes, offices, shops, car parking spots and industrial spaces were concluded last month, up 12.3 per cent from March’s 7,737 deals. The aggregate sales value jumped 17 per cent to about HK$72.9 billion (US$9.3 billion). Sales of new and second-hand residential units in the city climbed 16.7 per cent month on month to 7,368 in April, the highest since April 2024, when 8,551 units were sold, according to authorities. The sales value in April increased about 15.4 per cent over March to HK$63.67 billion. The rosy numbers reflected the resilience of Hong Kong’s property sector despite uncertainties over interest rates and the US-Israel war on Iran. Lime Spark in Tsuen Wan, the New Territories, comprised one-bedroom to two-bedroom layouts with areas of 273 sq ft to 416 sq ft, which offered discounted prices from HK$4.61 million to HK$7.36 million. Henderson Land made available 150 units via a price list and another eight via tender for Highwood Phase 2 in To Kwa Wan, Kowloon. The homes comprised one- to three-bedroom layouts with sizes of 265 to 512 sq ft. Discounted prices ranged between HK$5.01 million and HK$11.96 million per unit. Separately, Wang On Properties released 86 units at Porto in Ap Lei Chau on Saturday, with more than half of them sold as of 2.30pm, agents said. The flats included studios and two-bedroom units, ranging between 214 sq ft and 438 sq ft in size, with starting prices of about HK$4.84 million. Hong Kong’s residential property market is currently on an upturn cycle. Morgan Stanley recently boosted its forecast for home price increases from 10 per cent to 12 per cent. The US investment bank also sees another 5 per cent jump in Hong Kong home prices next year. On Sunday, buyers will also have a chance to snap up 130 units at Phase 3 of One Victoria Cove in Hung Hom, a joint development by Henderson Land, Hysan Development and Empire Group. </div>

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<p>Hong Kong's property market is experiencing a bullish trend, with homebuyers rapidly purchasing new flats. On Saturday, all 154 units at Sun Hung Kai Properties' Lime Spark project sold out, and 93% of the 158 flats at Henderson Land's Highwood Phase 2 were sold. Home prices have risen nearly 8% this year, prompting buyers to act quickly. April saw a surge in property transactions, reaching a four-month high, with 8,692 deals and a total sales value of HK$72.9 billion. Morgan Stanley has raised its home price forecast for Hong Kong from 10% to 12%.</p>

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Hong Kong home market maintains upwards momentum as new flats snapped up