BUYERS have oversubscribed by four times the registration programme for a villa complex near Yuen Long, even though the asking price has jumped 33 per cent in a year.
The developer of Kingswood Villa, in Tin Shui Wai, Cheung Kong, said the registration of potential home buyers was going very well. Registration began on Monday and ends today at 5:30 pm.
But experts believe the $2,800-per-square-foot price is about 33 per cent higher than would have been charged this time last year.
The 150 flats are expected to be completed in a year's time. They are part of Hong Kong's largest mass residential housing scheme. More than 10,000 flats are already completed.
Tommy Yuen, head of Cheung Kong's advertising department, estimated that to date more than 7,000 units were occupied.
The rest were bought as investments, he said.