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More housing is no problem

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Residents are not concerned that the expected sale of residential lots will lead to an oversupply of flats in the districts where they live. Some go so far as to express hope that the sale of luxury housing units could lead to a revival of the market.

Agnes Yim Sau-han, 33, part-time pianist, has lived in Fortress Hill for five years.

'North Point itself has its value, so property prices would not be affected too much even if there is an increased supply of luxury flats here. Besides, the property prices have already hit bottom. So I think that if prices drop, it will be only mildly.'

Miranda Wong, 42, a helper in a fruit-juice shop, has lived in Fortress Hill for eight years.

'I think property prices in the nearby area will not be affected too drastically.

'Prices may be dragged down a bit, but we hope the sales of luxury sites will help to revive the whole market.'

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