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Hong Kong housing project in Yuen Long attracts third highest number of potential buyers, despite market downturn
Most of the flats on offer at Sun Hung Kai Property’s Grand Yoho are snapped up within hours as developer offers discounts and flexible loans
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More than 16,700 potential buyers signed up for Sun Hung Kai Properties’ latest residential project, Grand Yohoin Yuen Long – the third highest number ever for a Hong Kong development.
Lured by a raft of discounts and flexible loans, over 300 flats were snapped up within hours. A total of 308 units were put up for sale during a first phase on Saturday.
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In 1997, with the property market driven largely by speculation, the firm’s Villa Esplanada in Tsing Yi registered a record 30,000 interested buyers, while East Point City in Tseung Kwan O chalked up 27,000 potential purchasers.
By 3pm on Saturday, over 95 per cent or about 300 Grand Yoho units had been sold, according to market sources who expect all 308 units to be snapped up by the end of the day.
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Buyers were attracted by lower-than-expected prices as well as the amenities near the property.
“The project is close to the MTR station which makes it very convenient, and the prices are very reasonable,” said Gordon Fu, an architect who purchased a unit.
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