No holiday for property agents as flats snapped up
Demand for new units unaffected by measures to curb prices, with the launch of Residence 88 proving a big draw for optimistic buyers
It was a good start to the Year of the Snake for Hong Kong's property market, with strong sales of new homes during the Lunar New Year holiday despite recent cooling measures.
Sun Hung Kai Properties, which launched Residence 88 in Yuen Long yesterday, said the project attracted a keen response. The developer expected about 100 flats to be sold by the end of the night.
New World Development said that since Saturday it had sold 33 units at The Reach, co-developed by Henderson Land Development in Yuen Long, and seven new flats at The Riverpark in Sha Tin.
Demand appeared unaffected by government measures, such was a special buyer's stamp duty imposed in October.
"We see strong buying sentiment and some clients cancelled their travel plans to stay in town during the holiday so they would not miss the launches of new flats," said Sammy Po Siu-ming, a director at Midland Realty.
We see strong buying sentiment and some clients cancelled their travel plans to stay in town during the holiday so they would not miss the launches of new flats
Compared with the previous Lunar New Year, when no new projects were released, this year's holiday was a busy one for agents.