About 40 flats bought by speculators at the new Yoho Midtown residential development in Yuen Long released at the weekend have been immediately advertised for sale on the secondary market at asking prices of up to 20% more than the prices buyers had originally paid.

Agents said the buyers were mostly wealthy and experienced, and were seeking quick returns on investment funded by low interest rates.

The move has raised concerns that speculation seen in the luxury housing segment in recent months is now spreading to the mass market and will reinforce expectations that the government is poised to act against excessive property price rises.

South China Morning Post