The frenzied buying activity in Hong Kong's residential market continued yesterday, when almost all 713 flats offered at the Villa Esplanada development in Tsing Yi were snapped up by end-users and long-term investors on the first day of sale.
Agents said the enthusiastic response would boost growing buying sentiment in the mass housing sector, which had started to pick up since last month, following a short-term correction in April.
The development, in Nga Ying Chau, Tsing Yi, is 55 per cent owned by China Resources Enterprise.
Sun Hung Kai Properties (SHKP) and Cheung Kong (Holdings) each own 22.5 per cent of the balance.
Villa Esplanada will comprise three phases of 10 residential towers, providing 2,736 flats with a total floor area of 2.4 million square feet.
Phase one will contain 792 units.