More than 500 flat buyers at HKR International's 1,112-unit Discovery Park phase three project in Tsuen Wan had failed to complete their purchases as of yesterday, fuelling speculation some of them might choose to default.
An HKR spokesman said 550 buyers had completed their purchases and the number of purchasers applying for top-up mortgages had increased to 150.
He said buyers still had time to complete purchases before tomorrow's deadline but those who missed the deadline would forfeit their deposits.
Discovery Park is a joint-venture project with New World Development.
BNP Prime Peregrine research head Adrian Ngan Wai-hung said he expected HKR International and New World Development to set aside about $300 million to meet demand for top-up mortgages for phase three flat-buyers.
He estimated about 300 buyers would need to seek financial aid from developers on top of their bank borrowing to complete the purchase before the deadline.
These flat buyers were each expected to seek an additional 20 per cent loan - or $1 million - from developers, bringing the loan extended by developers to about $300 million, he said.
