2024-05-03 28Hse Editor
(Lai Tsz-tin) Buyers snapped up cheap units of CK Asset’s The Coast Line II, with the project closing cheques sales at 8pm last night. Sources said that as of about 4:30pm yesterday, the project received over 30,600 cheques, surpassing its third round of sales in June 2021, which collected about 30,500 cheques. The development has now recorded the most number of cheques in Hong Kong’s history.
Oversubscribed by nearly 48 times, generating over HK$1.5 billion
Based on the first round of sales, the number of cheques received by The Coast Line II has now surpassed that of Villa Esplanada Phase 1 in Tsing Yi, which received about 30,400 cheques in 1997. Based on the 626 units sold in its first round, The Coast Line II is now oversubscribed by about 47.9 times.
First-hand transactions increased by 20% in the first seven months of 2023
Sammy Po Siu-ming, the chief executive (Hong Kong and Macau) of Midland Realty’s residential division, said that the market reception of new developments in Kowloon was strong. According to research conducted by Midland Realty, the number of new property transactions in Hong Kong in the first seven months of this year recorded about 6,843 transactions, representing an increase of 20.5% compared with 5,678 transactions in the same period of 2022; during this period, the number of new property transactions in Kowloon (including Tseung Kwan O and Sai Kung) in the first seven months of this year 2,919 transactions, representing a year-on-year increase of 24.1% and outperforming the market.
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