By South China Morning Post | Created at 2024-09-26 10:58:44 | Updated at 2024-09-30 15:32:07
4 days ago
Hong Kong developer Lai Sun Development has priced a new residential project in the New Territories at a 10-year low, as builders await improved buying sentiment following the start of the interest-rate cut cycle.
The Parkland, located at 266 Tai Kei Leng in Yuen Long, is a 12-storey building with 112 units. Lai Sun on Thursday released the price list of the first batch of 50 units, which cost an average of HK$9,278 (US$1,190) per square foot. The project is expected to go on sale next week.
The price is 5.3 per cent lower than the average cost of HK$9,807 per square foot for the initial batch of The Parkhill. The project, developed by New World Development, was launched in 2015.
Units in The Parkland range from 265 sq ft to 488 sq ft, with the batch including 40 one-bedroom and 10 two-bedroom flats. The discounted selling price ranges from HK$2.43 million to HK$4.63 million, or HK$8,614 to HK$10,663 per square foot.
All 40 one-bedroom units are priced under HK$3 million.
