Prices edge up for Park Seasons flats

Finance | Staff reporter 20 May 2024

Wheelock Properties has unveiled a third price list for 90 flats at Park Seasons in Lohas Park, with the average price inching up by 0.5 percent to HK$15,122 per square foot after discounts.

And while the market for new homes flourished, secondary sales continued to languish over the weekend.

The latest batch of Park Seasons flats range from 283 to 496 sq ft in size and cost between HK$4.54 million and HK$7.78 million after discounts.

Ninety-five percent of them are priced below HK$7 million.

The developer has become more cautious in raising prices, as the latest hike is narrower than the 3.8 percent increase from the first list to the second a month ago.

Wheelock Properties executive director Ricky Wong Kwong-yiu said prices of some remaining flats in the first list have been hiked by about 1 percent. The second round of sales may kick off this weekend.

Wheelock has so far sold 722 flats across the Seasons series, since its launch in March.

In Kai Tak, The Pavillia Forest's first phase is expected to be launched as early as this quarter, offering 291 flats, and an exhibition hall will be set up in Kowloon Bay.

Co-developed by New World Development (0017) and Far East Consortium International (0035), the project provides a total of 1,305 flats across three phases.

Meanwhile, primary market sales continued to flourish, as developers priced new homes at market levels or below.

CK Asset (1113) sold five out of 28 flats on offer at #Lyos in Hung Shui Kiu for HK$45 million, after slashing prices by as much as 32 percent.

In Yuen Long, Sun Hung Kai Properties (0016) recorded 205 deals for homes at The Yoho Hub II on Saturday, accounting for about 96 percent of 213 flats offered in the second round of sales.

SHKP said 414 apartments were sold for a total of over HK$3.7 billion in eight days, accounting for about 98 percent of the flats on sale.

In contrast, the 10 major housing estates recorded a mere four deals over the weekend, staying in single-digit territory for a third consecutive week, according to Centaline Property Agency.

Midland Realty's 10 blue-chip projects also saw the number of deals rise by 20 percent to six while the 10 estates tracked by Hong Kong Property Services reported four deals, up by 33 percent week-on-week.



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