Hong Kong buyers rush to snap up the cheapest new homes in 7 years, as 15pc discounts helped CK Asset sell all 626 flats at Coast Line II
- The property giant owned by billionaire Li Ka-shing sold all 626 units on offer at the current phase of the Coast Line II apartments as of 9pm, sales agents say
- Some 7,000 prospective buyers had lined up outside the sales office in Hung Hom ahead of the start of on-site registration at 9am
Hong Kong’s homebuyers rushed to seize the cheapest new flats on sale in seven years, delivering a clear sign to developers that discounts are the best tools for surviving the doldrums in the city’s property market.
CK Asset Holdings sold all 626 units of the Coast Line II apartments in Yau Tong on offer in the current phase as of 9pm, according to Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau.
Hundreds of prospective buyers started to line up outside the sales office in Hung Hom as early as 8am, before they were joined by some 7,000 others who formed a queue that extended all the way from the atrium of the Fortune Metropolis mall to the Hung Hom MTR station and the pedestrian bridge connected to Hong Kong Polytechnic University.
“We are happy about the number of people coming today,” said Justin Chiu Kwok-hung, CK Asset’s executive director, who arrived on site soon after registration began at 9am
