The luxury homes went under the hammer, one day after a site on The Peak was sold for HK$10.4 billion as part of official moves to boost the supply of prime urban land.

The nine homes, all with parking space, went for 6.6 to 41 percent higher than their opening bids.

The most expensive unit was an Elm Tree Towers apartment in Tai Hang that sold for HK$32.1 million, 22 percent above the opening bid.

A buyer surnamed Cheng, who said "I'm loaded," bought a Baguio Villa apartment in Pok Fu Lam for HK$25 million for his son's use.

Auctioneer and Centaline Surveyors director James Cheung King-tat said the results were "satisfactory."

He dismissed suggestions that the sale of the former quarters will boost home prices. "This is an open auction for everyone to bid. The government was only selling its assets at market prices."

Meanwhile, Jones Lang LaSalle is inviting tenders for a prime property atop a 25,764-square-foot site at 20 Peak Road in Mid-Levels.

"A number of prospective buyers from the mainland have shown interest," it said. The target price is between HK$500 million and HK$600 million.

Sino Land (0083) noted the proportion of mainland buyers at The Hermitage surged to 50 percent over the past week, from 10 to 15 percent previously.

The developer reiterated that it may raise prices for the remaining homes at the Tai Kok Tsui project after reaping over HK$90 billion.

Kerry Properties (0683) executive director Chu Ip-pui said prices for the remaining 120 homes at Island Crest may rise by 5 to 7 percent. It will sell four special units at the Sai Ying Pun project from HK$10.4 million. Kerry will also raise prices for Belgravia in South Bay and 15 Homantin Hill.