At least 8,000 buyers to vie for 160 homes at Sun Hung Kai Properties’ Tai Po project as China’s ‘golden week’ starts
- University Hill development hits the market on Saturday with discounted prices in place and amid a surge of Chinese visitors expected in the city
- At least 500 buyers will be vying for every unit on offer, according to agents.
The sale coincides with the start of a five-day holiday known as a golden week of tourism in mainland China, with more than 600,000 Chinese tourists expected to visit Hong Kong.
At least 500 buyers will be vying for every unit on offer from the city’s most valuable developer, according to agents. Of the 160 units to be sold, 150 will be available on open sales and 10 via bidding.
The homes will be sold at prices lower than those last year at the launch of the first phase of the same development at 63 Yau King Lane in Pak Shek Kok.
“University Hill’s first price list discount is about 7 per cent below the prices listed on the first batch of flats at Silicon Hill and about 10 per cent lower than new projects in the same area,” said Louis Chan Wing-kit, Asia-Pacific vice-chairman and chief executive of the residential division at Centaline Property Agency.
