Cullinan Sky and Blue Coast II Spark Buyers' Interest in Hong Kong's Property Market

Saturday, 19 October 2024, 09:23

Cullinan Sky and Blue Coast II mark Hong Kong's biggest home sales weekend as the Hong Kong Monetary Authority's new measures attract buyers. A surge in interest follows mortgage financing relaxations and a bullish stock market, revitalizing the property investment scene.
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Cullinan Sky and Blue Coast II Spark Buyers' Interest in Hong Kong's Property Market

Homebuyers Charge into Sales Centres

Cullinan Sky and Blue Coast II have captured the attention of homebuyers during Hong Kong's largest sales weekend in six months. 504 flats entered the market following changes by the Hong Kong Monetary Authority that relaxed mortgage financing rules. Notably, CK Asset Holdings and MTR Corporation recorded a staggering 8,000 bids for their Blue Coast II project, which included the sale of 68 flats.

Investors Drawn to Rental Yields

The favorable market conditions have led to a shift—many buyers are opting for self-use properties while others pursue property investment opportunities. Reports indicate that rental yields are on the rise, as the interest of 40% of buyers at Cullinan Sky Phase 2 leans towards investment.

Noteworthy Sales Activity

  • Wong Chuk Hang's Blue Coast II successfully sold premium flats, with one buyer investing HK$66.6 million for multiple units.
  • Prices in the Cullinan Sky Phase 2 project increased by up to 8%, reflecting renewed buyer confidence.
  • New financing measures allow up to 70% of a home’s purchase price to be financed, compared to previous limits.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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