Strong demand at two residential projects launched by Sun Hung Kai Properties at the weekend could encourage rival developers to bring postponed launches forward, analysts said.

Developers including Henderson Land Development, Chinachem Group, Nan Fung Development, New World Development and Cheung Kong (Holdings have a combined 2,000 units available for sale and could take advantage of the positive sentiment to generate revenue, the analysts said.

However, the better than expected results that saw 200 units sold at luxury project Peak One in Sha Tin and 400 units taken up at mass housing project La Grove in Yuen Long, generating HK$3.6bn, did not mean a turning point in the property cycle had been reached.

South China Morning Post