Sun Hung Kai Properties sold all 350 units released on Sunday in its Sierra Sea project, marking a fifth consecutive sell-out and underscoring a strengthening rebound in Hong Kong's property market. Analysts forecast further price increases ahead. The development, located between Sai Kung and Ma On Shan, is Hong Kong's largest housing project since 1999.
Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, sold all 350 units released on Sunday in its Sierra Sea project, marking a fifth consecutive sell-out and underscoring returning buyer appetite in the world’s most expensive property market.
The batch at phase 2B included 244 two-bedroom and 106 three-bedroom units, with discounted prices ranging from HK$4.6 million (US$590,000) to HK$9.74 million, according to sales documents released on Wednesday. The average discounted price came to HK$12,469 per square foot.
More than a fifth of the 9,700 units available have already been sold. Sierra Sea, located at Shap Sze Heung, between Sai Kung and Ma On Shan, is Hong Kong’s largest housing project since 1999. The development featured three themed clubhouses offering 168 amenities, including water play areas, indoor and outdoor sports, cycling trails and themed cabins, according to Centaline Property.
The strong sales reflect a property market regaining momentum after multi-year downturns. Lived-in home prices rose 3.25 per cent in 2025, while rents climbed to a record high in December, according to Rating and Valuation Department data.