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.

Here’s more from Bloomberg:
 

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!