Private developers starting to ramp up on new launches

Three price lists were released recently.

Based on latest data, primary volumes rebounded to 295 units.

According to a research note from Barclays, this was helped by the Housing Society’s Heya Aqua project in Cheung Sha Wan, which sold 275 units.

Excluding Heya Aqua, primary sales would have been only 20 units, consisting mostly of leftover inventory sales.

While the Housing Society had dominated primary sales over the past month, private developers are starting to ramp up on new launches.

Here's more from Barclays:

Three price lists were released last week. These include Cheung Kong’s Stars by the Harbour in Hung Hom, Henderson Land’s Parker33 in Shau Kei Wan and Henderson Land/NWD’s Double Cove Phase 4 in Ma On Shan.

Broadly speaking, the pricing for all three was higher than neighbouring developments. Double Cove Phase 4 Grandview released the first 95 units at a blended ASP of HK$14,669psf (net of all discounts).

Although this was in line with Double Cove Phase 3’s achieved ASP of HK$14,761psf, as Phase 4 is located further away from the coastline, this suggests Henderson
Land had taken a higher-priced strategy.

Similarly, for the first 50 units of Parker33 in Shau Kei Wan, the effective ASP of HK$21,185psf is approximately 25% higher than Les Saisons’ HK$16,896psf (14 year-old project).

Finally, at Cheung Kong’s Stars by the Harbour, the first 120 units were priced at HK$24,816psf, 43% more expensive than the secondary pricing of Chatham Gate. Stars by the Harbour will sell the first 81 units this coming Friday.