NWD Offers 28 Pavilia Rosa Flats as Hang Seng Slump Fuels Rate-Hike Fears
Updated
Updated · South China Morning Post · Jun 8
NWD Offers 28 Pavilia Rosa Flats as Hang Seng Slump Fuels Rate-Hike Fears
1 articles · Updated · South China Morning Post · Jun 8
Summary
Twenty-eight Pavilia Rosa flats in Kowloon Tong will go on sale Friday on a first-come, first-served basis, marking Hong Kong’s first regular new-home launch in more than two weeks.
NWD is testing demand as the Hang Seng Index weakens amid the US-Israel war on Iran and rising expectations that the Federal Reserve could raise rates after a strong US jobs report.
The developer said Pavilia Rosa has already sold 42 homes worth about HK$2.4 billion through tender, giving the Friday launch added significance as a gauge of broader market sentiment.
Hong Kong’s property market is especially sensitive to Fed moves because the HKMA tracks US rates to maintain the local currency’s peg to the US dollar.