Hong Kong’s homebuyers defy banks’ jitters in snapping up flats built by little-known developer in fourth straight sell-out weekend
South China Morning Post
Excerpt
Sep 18, 2021
Hong Kong’s homebuyers continued to pile into the residential property market, snapping up three of four flats on offer in two districts across the city, encouraged by an improving local economy and prospects of easy financing.
Up to 197 of 265 apartments, or 74 per cent, of available new flats on offer at two projects were sold as at 8:00pm, sales agents said.
Kwai Hung Group sold 128 of 130 flats released in the first batch of the Mangrove project in Hung Hom, defying the banks that pulled the plug on mortgage financing amid concerns over the developer’s ability to complete the project. At Wong Chuk Hang in the south of Hong Kong Island, Kerry Properties sold 69 out of 135 flats at La Marina, jointly developed with Sino Land and MTR Corporation.
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