Hong Kong luxury apartments set new per‑sq ft price records amid strong resale activity

A two‑bedroom garden unit in New World Development’s Kowloon Tong project sold for HK$1.794 million, a price of HK$38,428 per square foot, the highest on record for that type of unit. The buyer, a recent Hong Kong arrival seeking proximity to international schools, added to the development’s sales of 59 units worth about HK$2.7 billion within two weeks.

Similar high‑price transactions were reported across several blue‑chip estates. In Tai Koo Shing, a 759‑sq ft unit fetched HK$15.4 million (HK$20,290 per sq ft) and a 582‑sq ft unit sold for HK$10.5 million (HK$18,041 per sq ft). Other sales included a 225‑sq ft unit in West Kowloon at HK$6.3 million (HK$28,000 per sq ft) and a 610‑sq ft three‑bedroom at Yuen Long’s YOHO Midtown reaching HK$8.9 million (HK$14,638 per sq ft). Many sellers realized substantial profits, with some properties appreciating over 150 % since purchase.