Home buyers in Hong Kong are looking to buy new homes on the primary home market following cuts in interest rates last week, The Standard reported Monday.
For instance, Emperor International Holdings (HKG:0163) expects demand for the first batch of homes at its One Jardine's Lookout to be oversubscribed 15 times over the weekend, the report said.
Emperor also signed deals with property agencies to bar them from giving out rebates for the project, the report said.
Sun Hung Kai Properties' (HKG:0016) Yoho Hub II is also offering 94 apartments at HK$14,549 per square foot after discounts, the report said.
The developer is offering two-bedroom and three-bedroom units priced between HK$6.9 million and HK$13.1 million, The Standard said.
The Hong Kong Monetary Authority slashed its base rate by 50 basis points to 5.25% last week in line with the US Federal Reserve. The city's monetary policy has been in lockstep with the Fed since 1983 to keep the Hong Kong dollar's exchange rate stable.
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