Home run defies Covid fears

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Aiden He

Hong Kong’s main property market remained active over the weekend with more than 150 apartments sold despite an increase in the number of Covid cases.

Henderson Land Development (0012) raked in around HK$1 billion after selling all 136 units available in the first round of sales for The Harmonie in Cheung Sha Wan on Saturday.

It also released a fourth price list yesterday for 68 units at an average of HK$22,670 after discounts, about 4.5% higher than the average price of the first three lists.

The fourth batch, which offers homes of 322 to 377 square feet, costs between HK$6.54 million and 8.11 million after discounts, said Thomas Lam Tat-man, general manager of the sales department.

Those interested can send checks by the end of Tuesday and the second round of sales will take place on Thursday.

Elsewhere, La Marina atop Wong Chuk Hang MTR station has seen at least 21 deals, with its developers taking in more than HK$580 million.

The second-hand market also saw some improvement despite Covid, with Hong Kong Property Services’ top 10 estates seeing nine transactions, up 80%.

COO Dave Ma said many potential buyers are rushing to buy now because they fear prices will rise sharply after the seasonal boom around Lunar New Year.

He said the boom is “very likely” to appear after the holidays as sentiment improves thanks to liquidity injected by China’s central bank and stock market rallies, but that also depends on the pandemic situation.

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