Buyers offer to sell rights to flats

Speculation has reappeared in the property sector with more than 400 registered buyers at Island Harbourview offering their purchase rights for sale yesterday.

Agents said the speculators were asking for between $50,000 and $300,000 each.

The development, above the airport railway's Olympic Station in Tai Kok Tsui, attracted 6,600 prospective buyers in four days last week.

It was the second-biggest response to a project release this year, after Cheung Kong's Tierra Verde attracted 6,686 applicants at the end of May.

Lead developer Sino Land will release 1,268 units at Island Harbourview for pre-sale today.

Agents said trading of the pre-sale rights was not active. As of 7.30 pm last night, two had changed hands at prices of $180,000 and $310,000.

The holder of the first had sought up to $600,000 but later reduced the asking price by half, agents said.