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Overwhelming sales of Park Royale in Guangzhou despite thin market sentiment 2007-11-12

Write: Trudie [2011-05-20]

Overwhelming sales of Park Royale in Guangzhou despite thin market sentiment

2007-11-12

In the public sale held on 3 November 2007, all residential units from the premium Block A5 of Park Royale in Guangzhou were immediately snapped up in the market, realizing a transacted turnover of 300 million yuan. Two new highs for the Guangzhou company were also recorded the biggest transacted turnover in one day and the highest transacted unit price. This was also the company's second property after Gold Coast in Foshan that marked a turnover of 950 million yuan.

The overwhelming sales of Park Royale was seen as a sharp contrast to the thin market atmosphere and buyers' sentiment, which was resulted by the recent launch of "new second home mortgage policy" and the tightened mortgage policy. This showed that the premium quality of Park Royale units and the brand of China Overseas Property were highly received by customers; and the promotions and product messages were well delivered to the potential buyers.