Low prices attract end-users and investors to Housing Society development
Low prices and good location at the Housing Society project lure end users and investors
The Housing Society's Heya Delight development in Cheung Sha Wan is expected to generate an overwhelming initial response, agents say, with its low prices attracting interest from both end users and investors.
More than 1,800 would-be buyers had registered interest in the first batch of 60 units by yesterday morning, following the release of the price list last week, market sources said. The deadline for applications is tomorrow.
"It is probably one of the hottest new projects in town because of the attractive launch prices," said Kenneth Lam, a senior sales director at Centaline Property Agency's West Kowloon branch.
Even though no stamp duty subsidies were being offered, investors were still interested, Lam said.
The government doubled stamp duties for repeat buyers - to up to 8.5 per cent - for units costing more than HK$2 million to cool investment demand.
Heya Delight is located within walking distance of the Cheung Sha Wan MTR Station and Lam said investors believed its good location would help the project generate higher rents and make it easier to attract tenants.
The Housing Society priced the first batch of flats, which can only be sold to Hong Kong residents and only one each, at HK$10,878 to HK$15,271 per square foot.