Hong Kong homebuyers, enticed by big discounts, snap up all flats on offer at Great Eagle’s Onmantin project
- All 260 flats on offer were sold on Saturday after the project received 7,500 orders from prospective buyers
- Mainland Chinese homebuyers were also active during the weekend sale, according to Midland Realty
All 260 flats on offer were sold by 9pm, according to agents. The project recorded 7,500 orders from prospective buyers, or 28 times more than the initial number of flats on offer.
“The project received a warm market response with the high oversubscription rate,” said Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau. “Mainland buyers have also actively joined this recent home-buying spree.”
Po estimated that about three out of 10 Midland clients who registered to purchase flats at Onmantin come from mainland China.
The robust sales can be attributed to an improvement in sentiment following the government’s removal of all property curbs on February 28. Additionally, the developers’ discounted price strategy is attracting buyers from both Hong Kong and the mainland.
According to data published by Centaline Property Agency on Sunday, there were 3,065 transactions in the primary market between April 1 and 24. This represents a significant 106 per cent surge compared with the whole month of March. It is important to note that the April figure reflects the strong sales in March, considering the time lag for registration.
