Hong Kong's surging real estate market has recently encouraged an increasing number of buyers to place their money on bricks and mortar.
But market watchers said with competition from buyers at a high level, many people were eager to sign on the dotted line before getting all the details to make an informed decision.
One example is the sale of 8 Waterloo in Yau Ma Tei.
Aiman Lau Wai-hung, sales manager at Centaline Property Agency, said some buyers did not know which units they had bought, despite paying initial deposits for their purchases.
According to Mr Lau, when the project was put on internal sale in February several buyers were investors who were only concerned about the pricing of the unit.
'They decided to buy when the pricing was within their budget,' he said. As they aimed to resell their purchases in the near future, the exact address or living environment would not be their concern when they signed up, he said.
Developed by Sun Hung Kai Properties, 8 Waterloo has 576 flats ranging from 540 square feet to 790 sqft. More than 350 of the 576 sqft units in the two-tower development went through internal sale at an average price of $4,911 per square foot. Upper-level flats with good views are selling for more than $6,000 per square foot.
