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Time out for property punters

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Hong Kong home-buyers remain cautious, according to property agents, despite an encouraging initial response to Sun Hung Kai Properties' latest residential project to go on the market in Sha Tin.

Both home-buyers and owners, they say, are adopting a wait-and-see approach until the future SAR government reveals what measures it plans to take to reduce speculation and stabilise prices.

Sun Hung Kai Properties said it had registered 734 prospective buyers for 139 units in its joint venture residential project, Royal Ascot, in Sha Tin.

New World Development, however, would not disclose the number of registered buyers for 26 units at its joint venture project Ko Chun Court in Western. But agents said the official sale dates at both would reflect the real market response to recent negative news.

Ko Chun Court officially goes on sale on Saturday while Royal Ascot's sale begins on Sunday.

Midland Realty's Tai Po and Sha Tin district manager, Lai Wai-keung, said the response at Ko Chun Court so far was in line with his expectations.

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