MORE than 5,000 home-buyers descended on a new development in Sheung Wan yesterday, in the biggest show of interest in a flat sale for two years. There were 10 times as many buyers as flats available in the Housing Society's Hollywood Terrace. Police had to set up barricades to control the crowds. Property agents also flocked to the sale, as did representatives of 17 banks who were looking for mortgage clients. Secretary for Housing Dominic Wong Shing-wah said yesterday's turnout - the biggest for a residential property sale since 1997 - showed the market was emerging from a slump. He said he hoped the sale would boost confidence further in the property market. Most buyers said the price was what lured them to the sale. The 550 flats on offer - which quickly sold out - cost between $3,700 and $5,000 per square foot. 'I'm not affected by other people's opinion,' one buyer said. 'I'm buying the flat because it's cheap and I can afford it.' Some agents said the level of interest would have a knock-on effect and boost confidence in the second-hand property market. But not everyone was convinced. 'Flats are oversupplied at the moment,' one agent said. 'I believe prices won't go up again until next year.'