Hon Kwok Land Investment sold more than double its target of 58 flats during yesterday's launch of Regent on the Hill in Kowloon as attractive pricing and low mortgage rates drew more than 600 buyers, according to property agents.
The first batch of flats - priced at $3,825 per square foot - were taken by buyers who had registered last week.
According to property agents, 106 potential buyers registered for those flats.
To meet demand, Hon Kwok Land yesterday released a further 62 units to the public at about $4,016 per square foot, a premium of 5 per cent to 9 per cent, according to Crystal Tam, area manager for middle Kowloon with Centaline Property Agency.
Prices averaged between $4.5 million to $5 million, said property agents.
Ms Tam said response to the sale was good because prices for Regent on the Hill were similar to those in the second-hand market in the area.
'People who bought are taking advantage of the chance to move up to a larger flat at prices virtually the same as smaller flats in the second-hand market,' she said.
