Hong Kong records worst weekend sales of homes since June as intensifying violence keeps buyers away
- Chinachem Group manages to sell only four out of 144 units at its Sol City residential project in Yuen Long
- Buyers fail to turn up even after the developer raises the discount to 13.5 per cent from 7 per cent
Only four out of 144 units at Chinachem Group’s Sol City development in protest hotspot Yuen Long were sold as of 6pm, according to agents. Less than 10 potential buyers were at the sales office at Nina Tower in Tsuen Wan when sales commenced at 10am.
Another new project, Crescent Green, launched by Road King Infrastructure in the same district on Friday fared poorly as only 29 out of 67 units were sold.
Two weeks earlier, on November 2 and 3, only 35 per cent of 435 units offered by five developers found buyers.
“Most of the clients are in no mood to venture out because of safety concerns and traffic disruptions as the clashes between protesters and police have escalated in the past few days,” said Sammy Po, chief executive of Midland Realty’s residential department. “It is the poorest weekend sales performance since June.”