Registration rush for Kai Tak homes

Business | Carrie Chen Feb 17, 2017
K.City, a Kai Tak project launched by K Wah International (0173), received more than 1,800 checks for registration yesterday, eight times oversubscribed for the 208 flats the developer is planning to sell on Saturday.

Meanwhile, about 53 percent of Hong Kong respondents oppose developing country park land for homes, according to a survey conducted by GoHome.com.hk.

Lawrence Poon Wing-cheung, senior lecturer in the division of building science and technology at City University of Hong Kong, said Hong Kong residents haven't yet reached a consensus on the issue.

The survey also found 89 percent of respondents believe Hong Kong's property market is overpriced.

Nearly 80 percent of respondents said cooling measures cannot push down prices but will instead increase them as "the government has failed to tackle the problem of land shortage, population rise and hot money from the mainland," the survey said.

King Yip from HK Mortgage suggested increasing the maximum mortgage to 70 percent of the property value and to decrease the Double Buyer Duty to 8.5 percent from 15 percent.



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