9 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.