Hong Kong property sales more measured as interest rate increase looms

Hong Kong homebuyers showed interest in 130 flats put on sale by developers on Thursday evening, but the pace of buying was more measured after an interest-rate increase later this year became more likely.Agents said 30 of the 75 units put on sale at Phase 4B of La Montagne at the Southside project at Wong Chuk Hang MTR station sold on Thursday.The two-bedroom units had saleable areas ranging from 484 to 546 sq ft, with prices starting at HK$13.4 million (US$1.7 million) after discounts.With discounts, the prices equated to between HK$27,545 and HK$31,747 per square foot. The project is being developed jointly by Kerry Properties, Sino Land, Swire Properties and the MTR Corporation.Agents said five units were sold at One Victoria Cove Phase 4 in Hung Hom. The two- to three-bedroom units ranged in size from 338 to 585 sq ft. With maximum discounts, the flats were priced between HK$6.88 million and HK$13.52 million, with per square foot prices of HK$19,589 to HK$23,105.