Hong Kong developers test market with 222 units released amid interest rate uncertainty

Hong Kong developers on Friday released 222 new flats in Kowloon, the city’s largest batch of units on a single day since buyers were warned about the uncertain direction of interest rates.K&K Property launched 122 one-bedroom units at foto+, a single residential tower in Mong Kok close to Olympic station, while Wang On Properties put 100 units up for sale at the Connext project in Wong Tai Sin.By 7pm Friday, 103 of the foto+ units had found buyers, and seven Connext flat were taken, according to agents. Centaline Property Agency, one of the largest property agencies in Hong Kong, expects all units in both projects to sell out on Friday.“This month’s primary market transactions have so far exceeded 1,670, and the total for the month is expected to surpass 2,800, a 17-month high,” said Louis Chan Wing-kit, Centaline vice-chairman and president.So far this year, 5,500 new units have been sold, a 25 per cent increase compared to the same period last year, Chan said.Buyers were equally split between end users and long-term investors, he added.Home buyers inspect a model of a new development at a sales office in Tuen Mun, November 25, 2025. Photo: Dickson Lee