Hong Kong homebuyers flocked to a second round of sales at Sun Hung Kai Properties’ Cullinan Sky Phase 1, a residential project in Kai Tak, on Saturday as interest rate cuts and improving stock market performance strengthen confidence in the real estate sector.

As of 8 p.m., Sun Hung Kai, Hong Kong’s largest property developer by market capitalization, sold 232 apartments out of 238 on offer, according to real estate agents. Apartments ranged from studios to two-bedroom units, with salable sizes ranging from 236 to 655 square feet.

The discounted prices range from HK$4.786 million to HK$14.12 million (HK$615,900 to HK$1.1817 million), or from HK$18,188 to HK$26,784 per foot square.

Buyers are attracted by the project’s prime location and competitive pricing, according to Sammy Po Siu-ming, general manager of Midland Realty’s residential division. The buildings are directly connected to Kai Tak MTR station and the neighboring Airside Shopping Centre.

Last week, Sun Hung Kai sold the entire first batch of units offered in the same project. Many customers who hadn’t purchased last time returned Saturday, accounting for about 80 percent of those who asked, Po said.

Before the weekend, the project had already attracted around 38,100 potential buyers who had posted deposits.