Hong Kong Apartment Project Sold Out in a Day as Slump Fades
- First-hand units sold out quickly as market sentiment improves
- New residential property sales may rise to 2,800 in March
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Hong Kong’s biggest developer sold hundreds of new apartments in a day, the latest sign that the housing market is recovering from last year’s slump.
Sun Hung Kai Properties Ltd. offloaded all of the 352 homes for sale in its NOVO LAND project on Saturday for more than HK$2 billion ($255 million), according to the developer. Meanwhile, Wheelock Properties Ltd. sold 304 units in its KOKO ROSSO development in 10 days, accounting for about 99% of those available for purchase, the company said.