A new residential development in Hong Kong’s New Territories, under the banner of Early Light International Holdings, saw a swarm of potential homeowners on Saturday. They were enticed by the affordable pricing and promising investment prospects, just before the inauguration of the US president-elect, Donald Trump.

As the day concluded at 5pm, a whopping 217 out of the 280 units available at The Reserve at Gold Coast Bay in Tuen Mun had been purchased. This information was provided by the developer, which is under the ownership of Hong Kong’s toy magnate, Francis Choi Chee-ming.

The units, ranging from HK$2.42 million (US$310,796) to HK$7.34 million after discounts, or HK$7,941 to HK$12,073 per square foot, are enticing to both investors and personal homeowners due to their affordability. Louis Chan Wing-kit, CEO of Centaline Property Agency’s residential division, has expressed that these “parking-space prices” are a major draw.

The current offerings include a variety of options, with 72 studios, 112 one-bedroom flats, 77 two-bedroom units, and 19 three-bedroom homes, ranging from 304 to 655 square feet in area. Approximately 40% of these units are priced below HK$3 million, as per the developer.

In the heart of the action on January 18, property agents and potential buyers gathered in anticipation for the first day of sales for the 280 units of The Reserve, Phase 2 of Gold Coast Bay in Tuen Mun.

Chan emphasized the popularity of these units among young, first-time purchasers and investors, given the high rental demand in the locality. This makes the development an appealing option for those looking to invest or simply seeking a new home, without explicitly focusing on the investment aspect.