Hong Kong property launch sees brisk sales as buyers unfazed by Trump’s Iran warning

Hong Kong homebuyers flocked to the second round of new flat sales at the La Mirabelle I project in Tseung Kwan O, underscoring continuing demand for property amid escalating tensions in the Middle East.By noon, 72 of the 168 units had been sold, according to agents. Another 86 flats have been made available via tender.The flats via the regular sale were priced between HK$5.93 million (US$756,000) and HK$8.99 million, including maximum discounts of 15 per cent. They were priced 1 per cent higher than those in the previous batch a week ago.Flats in the new batch have a saleable area of between 360 sq ft and 558 sq ft and with layouts of one to two bedrooms.The brisk sales come amid fresh warnings of a potential increase in US interest rates as oil supplies remain restricted amid the ongoing US-Israel war against Iran.Overnight, US President Donald Trump warned of dire consequences for Tehran if the crucial Strait of Hormuz remained closed, where about a fifth of the world’s oil supply passed through before the conflict began.While the US Federal Reserve kept its target rate unchanged in its last meeting, a persistent increase in oil prices has added uncertainty to the outlook.