Mount Anderson in Kwun Tong, first new project launch of Year of the Ox, sees dismal take up with just a few flats sold on first evening
- The project received a very lukewarm response from buyers, with just three of 52 flats sold on Tuesday evening, according to agents
- Potential buyers may be hesitant to act because of worries about transport links to the development in east Kowloon, which currently has no bus services
“As it is a newly developed area, it is inevitable that buyers need to take time to learn and get comfortable with the project’s location and transport links,” said Sammy Po Siu-ming, chief executive of Midland Realty’s residential division.
“We understand that a transport interchange will be put in place, with bus links to the Kwun Tong and Choi Hung subway stations, when the project is completed.”
Some 52 units of the project developed by Chinachem Group in Kwun Tong were offered to the public at an average price of HK$20,363 per square foot. Another 16 units were put on sale via private tender.
The cheapest unit in the batch, measuring 377 sq ft, will cost HK$7.92 million after discounts.
That is around 16 per cent lower than a project on sale in nearby Kai Tak and 10 per cent cheaper than another one near the Kwun Tong subway station, Po said.
Mount Anderson, with 334 units in four towers, is expected to be completed in March next year. The units are one-to-three bedroom flats with usable space of around 300 to 900 square feet.