<div id="readability-page-1">Hundreds of prospective buyers gravitated to a Sun Hung Kai Properties’ (SHKP’s) project in the New Territories on Saturday, keen to view the 121 flats on offer in a fresh sign that Hong Kong’s home market is on a sustained upwards cycle despite risk caution. As of 2pm, more than 80 per cent of the homes at Lime Spark in Tsuen Wan had found buyers, while some bullish investors offered to buy more than one unit, according to property agents. The buying euphoria surrounding the project came one week after its first batch of 154 units was sold out last Saturday. “We have seen a warm response from homebuyers,” said Tam Sik-cham, SHKP’s sales and marketing assistant general manager. “The developer is highly confident of the sales results today.” He added that one buyer planned to spend more than HK$30 million (US$3.8 million) to purchase four units, while another six investors looked at owning three flats each. The homes comprised one- to two-bedroom layouts with sizes from 273 sq ft to 416 sq ft. Discounted prices ranged between HK$4.83 million and HK$7.84 million per unit. SHKP generated more than HK$1 billion after the sale of the 154 flats at Lime Spark last week.  Tam said earlier that the second batch of homes at Lime Spark would be priced at a maximum 15 per cent discount. SHKP said the decision to quickly release the 121 new units was due to the overwhelming market response because a large number of unsuccessful buyers showed keen interest in the project. “The positive atmosphere surrounding the US-China leaders’ summit in Beijing has become a new boost to the local property market,” said Louis Chan Wing-kit, vice-chairman of Centaline Asia-Pacific and president of its residential division. “The number of [Hong Kong] new home sales in May is expected to reach 2,800, hitting a 19-month high.” 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 recent buoyant home sales reflected the resilience of Hong Kong’s property sector despite uncertainties over interest rates and the US-Israel war on Iran. The city’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. Early this week, Hong Kong’s first land sale in the current financial year drew six bids, including those from the city’s largest developers. At the close of tender for Tung Chung Town Lot No 54 at Area 106A at Friday noon, SHKP submitted a solo bid, while Kerry Properties and Sino Land submitted a joint offer, the groups separately confirmed to the South China Morning Post. The tenders suggested a more confident outlook for the city’s residential property market, analysts said. The parcel, measuring 14,152 square metres, is expected to yield about 990 residential units. Consultancy CBRE estimated its value at HK$960 million. </div>

00016

<p>Sun Hung Kai Properties (SHKP) saw strong demand for its Lime Spark project in Tsuen Wan, with over 80% of 121 flats sold by 2pm on Saturday. This follows the sale of 154 units the previous week. Buyers are optimistic, with one planning to spend over HK$30 million for four units. The homes range from HK$4.83 million to HK$7.84 million. Analysts note a positive trend in Hong Kong's property market, with sales expected to reach a 19-month high in May, despite ongoing economic uncertainties.</p>

SCMP

SHK PPT

Morgan Stanley

KERRY PPT

SINO LAND

CBRE

SHK PPT-R

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

Buyers flock to SHKP project in New Territories as home market outlook brightens