Chan Wing-Kit: Ho Man Tin Fat Kwong Street Residential Site Sold at High Price as Developers Turn More Aggressive in Land Bids

Centaline Property's Chan Wing-Kit noted that the Ho Man Tin Fat Kwong Street residential site was recently sold for over $4.3 billion, at about $20,738 per square foot of floor area, nearly 40 per cent above the upper end of market valuations, setting a new high for residential site floor prices in Kowloon in nearly 5 years. He believes the site attracted 10 tenders, reflecting a shift in developers' attitude towards replenishing land reserves from conservative to aggressive, and renewed confidence in the property market.