Developers roll out festive promotions
Finance | Cici Cao 16 Dec 2024
Cici Cao
Developers rolled out promotions to attract buyers ahead of the festive season as buyers adopted a wait-and-see attitude in anticipation of potential rate cuts.
Transactions at Hong Kong's 10 major housing estates fell by 20 percent week-on-week to 12 deals over the weekend, as some buyers delayed purchases due to plans for Christmas trips with others waiting for news on an anticipated US rate cut this week, according to Centaline Property.
In Tuen Mun, Road King Infrastructure (1098)'s Mori launched 70 units today at an average discounted price of HK$9,175 per square foot. The project's two show flats received over 5,200 weekend visitors.
In Kai Tak, New World Development's (0017) Pavilia Forest sold four flats worth HK$30 million over the weekend and unveiled a winter incentive to offer up to HK$128,000 discounts for designated units.
Meanwhile, developers introduced promotions to lure buyers amid the upcoming Christmas and New Year season.
Wheelock Properties' Park Seasons in Tseung Kwan O offers a Christmas-themed winter trip to Kyoto worth HK$10,000 to the first five homebuyers via Centaline, while Henderson Land's (0012) The Knightsbridge in Kai Tak offered 20 trip coupons worth HK$25,000 to the first four customers through five agencies including Midland and Centaline.
In other news, the vacancy rate of commercial property in Tsim Sha Tsui dropped to 6 percent in November, the lowest in nine years, down 11 percent from the 2021 peak, according to Centaline.
Today's Standard
