Buyers snapped up 100 units at Cheung Kong (Holdings)' joint-venture Cairnhill development in Tsuen Wan in three hours yesterday, bringing the number of units sold since the opening of reservations on Friday to 280.
An additional 100 flats in the project were offered for 'advance booking' through property agents at 3pm yesterday after more than 1,000 prospective buyers swamped the sales office.
'All 100 units released by the developer were fully booked by buyers at 6pm,' Ricacorp Properties sales manager Ringo Choi said. 'It is a bit confusing here as lots of walk-in buyers are unaware that sales have not opened to the public yet. They have to reserve a unit through property agents.'
Buyers had to place a 5 per cent initial deposit, which would be forfeited if they walked away from the deal, he said.
Agents put the strong response down to the lack of new supply from large residential projects in the area and the developer's announcement that it planned to raise prices.
The Cairnhill, jointly developed with Sino Land and K Wah Property, is a low-density residential development comprising 770 units ranging in size from 1,199 square feet to 1,883 square feet.
