RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Housing market defies cooling measures amidst aggressive market takeup

Wheelock & Co. sold all 750 apartments amidst a slew of 9,800 applications.

Bloomberg reports that Hong Kong’s heated housing market continues to defy cooling measures to curb its runaway growth as buyers remain enthusiastic over new projects with Wheelock & Co.’s non-landed property in Kowloon selling out all 750 apartments over the weekend.

The total sales consideration reached an estimated $8.1b amidst an overwhelming 9,800 applications. Based on buyer enthusiasm, Wheelock is likely to announce the launch of an additional 300 to 400 apartments, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd.

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