TOMORROW'S public auction of three residential sites will be a crucial test and gauge of confidence in the property market amid the escalating Sino-British row.
Both large and small property developers are expected to pack the concert hall of the Cultural Centre, the venue of the last auction for this financial year.
Analysts said the auction results would be a barometer for the booming residential sector and determine the direction of the market - whether prices would continue their upward spiral or cool down at current levels.
The focus of attention will be on the 75,982 sq ft residential site at the junction of Farm Road and Ma Tau Wai Road in Kowloon.
A price tag of more than $1.6 billion has been tipped for the site, one of very few rarely available pieces of land in the area surrounding Ma Tau Wai Road.
Despite worries about the ongoing political dispute, bidding for the site is expected to be fierce, with major developers apparently anxious to replenish their land bank.
