Hong Kong’s homebuyers snapped up every flat on offer during a weekend sales launch on Saturday, as attractive prices amid a stock market rally bolstered sentiment in the city’s tepid property market.
“The project is in Yuen Long, which is convenient, with a good living environment,” which makes it popular with owner-occupiers as well as investors, said Sammy Po Siu-ming, the CEO of Midland Realty’s residential division for Hong Kong and Macau.
The small apartments, priced between HK$2.6 million and HK$5 million, were attractive to younger, first-time buyers who were looking to own property for their own use, Po said.
Investors also found the project’s price and rental yield attractive, projected at about 5 per cent per annum, Po said. About 30 per cent of the buyers at Hava were investors on the lookout for tenants, he said.
