The fifth round of sales for Pak King Fung in Yau Tong on Friday saw 98 units sold at a discounted price below HKD 6 million

SINO LAND (00083.HK), CSI PROPERTIES (00497.HK), and MTR CORPORATION (00066.HK) will close ticket sales for the Oil Tank Parkview tomorrow (27th), with the second round of sales taking place on Friday (28th), involving 150 units, ranging from one-bedroom to three-bedroom apartments. Based on the pricing, the market value of the 150 units exceeds HKD 1.02 billion.

SINO LAND Executive Director Tian Zhaoyuan stated that if customers choose the 120-day payment plan, after deducting the maximum discount of 15%, 98 units will have a discounted price below HKD 6 million, with prices ranging from HKD 4.2746 million to HKD 9.5072 million, and per square foot prices ranging from HKD 14,108 to HKD 16,448.

He mentioned that last week, the first round of sales for the project was nearly sold out, with a single-day cashing out of over HKD 835 million. On that day, 9 groups of large buyers purchased a total of 24 units, involving over HKD 140 million; the large units sold in the first round accounted for over 16% of the total units launched. Investors are optimistic about the rental returns from Parkview, with market expectations that future rental prices could reach around HKD 60 per square foot, making the rental yield attractive at nearly 4.5%. Therefore, they are actively entering the market. The main buyers in the first round of sales came from East Kowloon and East Hong Kong Island, accounting for over 50% and about 25%, respectively. He expects that the units in the second round of sales will continue to be sought after by investors, estimating that large buyers will continue to enter the market