'Lucky' push fails to pull in home buyers

PUBLISHED : Monday, 01 February, 1999, 12:00am
UPDATED : Monday, 01 February, 1999, 12:00am

Henderson Land's attempt to sell 88 'lucky' units in the second phase of its Metro City development in Tseung Kwan O over the weekend fell flat with buyers staying away.

Less than 200 people turned up on Saturday and fewer still arrived on Sunday, agents said.

'Sales over the weekend were not satisfying,' said one property agent who requested anonymity.

Property agents estimated Henderson Land sold less than 30 of the 88 units on offer on Saturday and even fewer on Sunday.

Prices for the promotion had been cut by a couple of percentage points to about $3,400 per square foot in order to entice buyers back into the market.

The developer refused comment on weekend sales activity.

According to property agents, buying activity was mainly concentrated on the two-bedroom flats measuring about 515 square feet and costing about $2 million.

Also on sale were three-bedroom flats measuring 750 sq ft at $2.7 million.

In addition, there were flats measuring 992 sq ft costing $3.6 million as well as flats measuring 1,007 sq ft for $3.7 million.

According to most agents, it was the smaller flats which generated the most amount of interest.

The 88 units which were released on to the market were part of the 3,344 units which comprise the second phase of Metro City.

The development includes a total of 6,000 units.