The Ascent

The Ascent is a new development in Cheung Sha Wan district jointly developed by Hong Kong-listed Paliburg, its subsidiary Regal Hotels International and the Urban Renewable Authority. The Ascent comprises studio to two-bedroom units ranging from 276 to 458 sq ft each. The 157 unit building sold nearly all the available units during the strong primary market of the summer of 2016. The first 130 units sold were priced at between HK$4.07 million to HK$6.94 million, averaging around HK$14,100 for each usable square foot after discounts and incentives. Agents attributed the strong sales to high demand for smaller units from first time buyers. 30% of the units were estimated to have been sold to investors who are targeting a 4% rental yield.