Cheung Kong sells 100 new units in 1.5 Hours with counter mortgage offer

Posted: Mar 9 2015Last Updated: Mar 9 2015
Share:

Cheung Kong new development, La Lumiere9 March 2015 - Since the adoption of the new mortgage-tightening measures, the first round of new developments were released to market yesterday. Cheung Kong, the biggest property developer in Hong Kong, sold 108 units of its new development, La Lumiere, in just 90 minutes.

Offering an exceptional 90% mortgage to first-time buyers, these small-sized flats in Hung Hom attracted more than a thousand keen buyers flocking to bid for the one hundred 430-squarefoot units available.

Analysts regard the sales result as a reliable market indicator, which may affect buyers’ demands as well as developers’ sale strategies for their new projects.

Other properties without the 90-percent-mortgage offer saw much lower demand yesterday. Kerry Properties’ Dragon Range in Sha Tin and Nan Fung Development’s The Visionary sold only 11% and 52% of the releases respectively.

 

You May Also Like

Despite the Current Coronavirus Crisis, Real Estate Experts Don’t Foresee Prices Fal

12 March 2020 - Amidst the black-swan emergence of the coronavirus, rather than simply state my own views about the potential impact on property prices, I want to also summarize what various real estate experts across different parts of the industry
By: Joshua Han Miller

7 Tips to Consider if You Plan to Sell Your Home in Hong Kong

5 October 2020 - Events over the past year or so have contributed to significant economic turmoil in Hong Kong and by extension seriously upset the once predictably expensive local home property market. As a result, increasing numbers of homeowners
By: OKAY.com
More Insights

Want to find your ideal home in seconds? We are happy to help!

OKAY.COM - iOS App StoreOKAY.COM - Android Play Store
15/F, Wilson House, 19-27 Wyndham Street, Central, Hong Kong | T:+852 2102 0888
Do you want to login
You already have an account with us? How about logging in?