Hong Kong homebuyers spurn latest batch of flats in Kai Tak after temporary housing plan at former airport unveiled
- Buyers steered clear of 111 flats on offer at Wheelock Properties ’s Monaco Marine development on Friday
- It is the first project to be launched there since the controversial plans to build temporary housing units nearby was announced in late January
As of 8:30pm, just four units at Monaco Marine had found buyers, in stark contrast to the strong sales seen at other new launches since the start of the year. The frosty reception was nonetheless expected, agents said.
Most of the units were ones that did not find buyers when they went on sale as part of an earlier batch.
“It is leftover stock. [They] mainly offered the units for immediate purchases by walk-in buyers over the weekend,” said Sammy Po Siu-ming, CEO of Midland Realty’s residential division for Hong Kong and Macau. “Not many transactions are expected today.
“So far there is no completely new project launched in Kai Tak after the light public housing project plan was announced. The developer launched this batch of leftover units to test the market. It is not considered a completely new launch.”
