Swire to offer Miami luxury home project in Hong Kong
March 31, 2015 - Miami
Swire Properties is set to begin the sale of its Miami luxury residential project in Hong Kong as investors increasingly turn overseas with the government imposing tougher rules to curb investment demand.
The developer announced the price list for the first batch of 20 apartments, with sizes of 982 to 1,852 square feet in saleable area, at the 43-storey Rise.
Prices range between HK$5.16 million and HK$11.62 million, or HK$5,254 and HK$6,274 per square foot - cheaper than the average of HK$7,100 per square foot for homes in Tin Shui Wai.
The 373-unit Rise is one of the two condominium towers at Brickell City Centre, a massive HK$8 billion mixed-use development in downtown Miami.
As of now, 65 units at Rise have been sold for about US$672 per square foot, 5.99 per cent higher than the transaction prices at the other tower, Reach, which was offered in May last year. Swire has sold 304 flats at Reach.
The decision to launch sales in Hong Kong followed the strong demand in the United States and from international buyers for Reach, which is now almost 80 per cent sold, Aguila said.
Centaline Property Agency has been appointed the exclusive agency for the sale of Rise in Hong Kong.
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