RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Homebuyers snub two recently launched projects in Hong Kong

Their increased prices found few takers.

According to a report from South China Morning Post, two property projects launched over the weekend posted worse-than-expected sales results, as their increased prices found few takers.

The second phase of the Alto Residences in Tseung Kwan O – launched with a 57% price increase after the first phase – put customers off so much that the developer managed to sell only four of 42 units on offer. Alto Residences is a joint project between Lai Sun Development and former Sun Hung Kai Properties chairman Walter Kwok Ping-sheung. A day later, K Wah International sold 23 of the 42 units offered at its K City project in Kowloon.

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