The Sierra Sea 2A phase received a record breaking 42000 votes, signaling a clear recovery in the Hong Kong property market?

The Xisha project "Sierra Sea" Phase 2A, launched by Sun Hung Kai Properties, was the first heavyweight new project of the year. In the first round, 262 units were sold, setting an astonishing record - a total of 42330 registration tickets for purchasing intentions were obtained. After excluding 49 bidding units, the oversubscription of 213 units reached 197 times, not only breaking the record for ticket collection in Hong Kong's new projects over the years, but also replacing the 38000 tickets received by Yau Tong Qinhai Station II in 2023, and topping the "New Property Ticket King" throne.

1、 Phenomenon level hot selling: Multiple advantages forge the legend of "ticket king"

The explosion of Sierra Sea Phase 2A is not accidental, but a multiple resonance of project positioning, pricing strategy, and brand strength. From the perspective of the project itself, it is located at No. 8 Haiying Road, Xisha, with a planned 4 buildings and a total of 727 units. The main focus is on one bedroom and two bedroom small units, accounting for over 70% of the total, covering an area range of 275 to 835 square feet, accurately meeting the needs of families in need, new arrivals to Hong Kong, and young home buyers. In addition, the project is located near research and academic highlands such as the Chinese University of Hong Kong and the Hong Kong Science Park, which can attract technology professionals and university practitioners to start, and the demand foundation is extremely solid.

The restraint in pricing further amplifies the attractiveness of the project. The discounted entry price of this project starts at HKD 3.44 million, with a maximum discount of 15%. The discounted total price ranges from HKD 3.44 million to HKD 9.09 million, which is highly competitive compared to the threshold of tens of millions in the core area of Hong Kong Island. At the same time, as a leading real estate company in Hong Kong, Sun Hung Kai Properties has endorsed the quality of its projects with mature development experience and brand reputation. Coupled with the expected occupancy date of September 30, 2026, the short-term delivery cycle has further reduced the decision-making concerns of homebuyers. Multiple advantages have jointly given rise to a rush to purchase, ultimately achieving the grand scene of 213 units being sold out on the same day of opening.

2、 Behind the hot sales: dual empowerment of policies and market environment

The popularity of a single project cannot be separated from the support of the overall market environment. The hot sales of Sierra Sea Phase 2A are essentially the inevitable result of the combination of multiple favorable factors in the Hong Kong property market. On the policy side, the effects of the comprehensive "spicy" policy will continue to be released in 2024, canceling multiple tax burdens such as buyer stamp duty and new residential stamp duty, completely removing the transaction cost barriers that have suppressed the market for many years. At the same time, policies such as the high-end talent pass plan and the new capital investor entry plan have been implemented, injecting a large amount of high-quality incremental demand into the market. By 2025, the number of mainland buyers entering the market has reached 13800, accounting for 25% of the total.

The improvement of the financial and economic environment has become a key driving force. In the global interest rate downturn cycle, Hong Kong's mortgage rates have fallen to a low level, and the phenomenon of "equal supply over rent" has reappeared. In September 2025, 75% of the benchmark housing estates had lower mortgage costs than rent, significantly stimulating the demand for rent to buy and exchange. At the same time, the Hong Kong stock market rebounded by over 40% in 2025, with GDP growing by 3.8% year-on-year. The wealth effect combined with mild inflation further activated market purchasing power, and a large amount of idle bank funds flowed into the property market to seek value preservation and appreciation, providing sufficient financial support for new hot selling properties.

3、 Market truth: Clear recovery but intensified differentiation

The record breaking performance of Sierra Sea 2A undoubtedly confirms the recovery trend of the Hong Kong real estate market, but this does not mean a general rise across the board, as sector differentiation and structural differences remain the core features. From the overall data, the registration volume of building purchase and sale contracts in Hong Kong in 2025 reached 80702, a four-year high. The registration volume of residential buildings increased by 18.3% year-on-year, and the leading index of Central Plains cities increased by 4.7% year-on-year, reversing the three-year decline. The trend of the real estate market bottoming out and rebounding is very clear.

But regional and product differentiation is becoming increasingly evident. Represented by the Xisha Plate in the New Territories where the Sierra Sea is located, it has become a hot spot in the demand market due to the planning and pricing advantages of the northern metropolitan area; The core areas of Hong Kong Island and Kowloon Kai Tak rely on scarce resources and complete supporting facilities to attract high-end buyers and mainland capital layout, and the luxury housing market continues to heat up transactions. On the other hand, some old residential areas and suburban areas without supporting housing still face the dilemma of narrowing bargaining space and slow turnover, forming a pattern of "core areas leading the rise, demand driven properties selling well, and unpopular properties cooling down".