Homebuyers flocked to a new residential project by Early Light International Holdings in Hong Kong’s New Territories on Saturday, drawn by its value for money and investment potential ahead of the inauguration of US president-elect Donald Trump.
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As of 3.30pm, 179 of the 280 units offered at The Reserve at Gold Coast Bay in Tuen Mun were sold, according to agents. Hong Kong tycoon Francis Choi Chee-ming owns the developer.
The flats – priced between HK$2.42 million (US$310,796) and HK$7.34 million after discounts, or HK$7,941 to HK$12,073 per square foot – have “parking-space prices” that attract both self-use buyers and investors, said Louis Chan Wing-kit, chief executive of Centaline Property Agency’s residential division.
The latest batch includes 72 studios, 112 one-bedroom flats, 77 two-bedroom units, and 19 three-bedroom homes, with areas ranging from 304 to 655 square feet. About 40 per cent of the units were priced below HK$3 million, according to the developer.
Chan noted the flats were popular among young first-time buyers and investors due to high rental demand in the area.
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