Post-slump record for new sale

PUBLISHED : Friday, 24 April, 1998, 12:00am
UPDATED : Friday, 24 April, 1998, 12:00am
 

Henderson Land Development has registered 5,505 potential buyers for its Dawning Views project in Fanling - the largest number recorded for a new property sale since last year's market slump.


The registration froze more than $825 million as registered buyers were required to put down an initial deposit of $150,000.


With a strong response to its seven-day registration which closed yesterday, Henderson released an additional 360 units, raising the total on sale tomorrow to 1,260.


Prices for the extra units are $3,662 per square foot - up 19.36 per cent from the $3,068 per square foot for the first 180 units on offer.


Dawning Views provides 2,688 units measuring 521 sq ft to 1,379 sq ft.


Agents said the enthusiastic response was mainly due to discount pricing and the smaller lump sum involved for the units which attracted first-time buyers.


Despite the oversubscription in registration, analysts said buyers were still price sensitive and it would be difficult to see an immediate sell-out of the units.


Henderson will provide a 20 per cent second mortgage.


Two weeks ago, Henderson also drew a strong response to its La Cite Noble sale in Tseung Kwan O by registering 1,967 potential buyers.


The project sold 700 units - the largest number of units sold on the first day since the regional financial turmoil.


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