LUCKY draws and generous financing terms are the latest weapons being used to drum up demand for residential sales, with Henderson Land Development employing both to promote the sale of its Sunshine City residential project at Ma On Shan.
Sunshine City buyers will be given the chance to win $1 million in gold and to make use of mortgage finance up to 90 per cent. Prices will also be lower by up to seven per cent.
Analysts said the unusual offers reflected the increasing efforts and innovative strategies of developers to unload residential properties in a competitive and sluggish market.
Henderson will launch the public sale of 248 units at block F of Sunshine City on Tuesday on a first-come first-served basis.
Buyers can win more than $1 million worth of gold in a lucky draw - the first time a developer has employed such an unusual offer to promote sales.
Donald Cheung, senior manager of Henderson's sales department, said the average selling price would be about $4,100 per square foot on lump sum payment, a drop of about seven per cent on the last sale in January.
