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Hong Kong investors still backing adult to buy even a smallest flats

Many buyers with a bill to buy only one prosaic in a latest turn of releases during a Lime Gala growth in Shau Kei Wan could be left dull handed.

According to a sales arrangements set by developer Sun Hung Kai Properties (SHKP), priority will be given to buyers opting to buy slightest dual flats in Friday’s sale of 38 units.

Bulk purchasers bought 37 of a flats, with section sizes trimming from 329 block feet to 479 sq ft, within dual hours, according to marketplace sources, definition only one section was left for finish users.

The growth had sealed adult 528 intensity buyers for a 38.

“The marketplace for tiny flats is hot ,” pronounced Sammy Po, arch executive of Midland Realty’s residential department.

He pronounced 70 per cent of his clients are now shopping for investment and renting them out.

“Most of a smaller flats are being sole out first, as smaller pile sums are needed. Investors seem to cite pouring several million dollars into skill than into a flighty collection market,” he said.

One customer split out HK$27 million for 3 flats during Lime Gala on Friday.

SHKP’s sales arrangements divided buyers into dual groups: Group-A compulsory shopping a minium of dual flats, one of 429 block feet or bigger, and one studio flat. Group-B was allocated to one-flat purchasers. Prices during Lime Gala are from HK$6.03 million to HK$10.8 million.

Elsewhere in a market, New World Development reported it had sole all 20 units during a Skypark growth in Mong Kok. The flats, all incomparable than 400 sq ft, had increasing as most as 4 per cent in cost from a prior collection released, and were offered during an normal HK$22,800 per sq ft.

Henderson Land, meanwhile, announced it would be charity 30 units for sale during a One Prestige in North Point on Sep 20. The developer has labelled a units during HK$3.9 million, or HK$23,975 per sq ft, for a 163 sq ft flat, a smallest ever sole on Hong Kong Island, though sales of vast units during a site have available a temperate response.

And Wheelock Properties suggested it had sole one section any during a Savannah site in Tseung Kwan O, and One Homantin, in Ho Man Tin.