HONG KONG: Henderson Land has raised prices at what is already one of Asia’s most expensive residential projects with keen demand for luxury holding firm.
The developer cut discounts it offered previously as it looks to sell remaining units at 39 Conduit Road. That decision amounts to a 2 percent price hike.
The Mid-Levels development set an Asian price record for an apartment when a unit sold for HK$93,000 per sellable square foot in April.
Also at the high end of action, Sun Hung Kai Properties (0016) puts a luxury project in Ho Man Tin on the market this month. Sitting on a HK$10.9 billion site, which SHKP secured in 2010, Ultima provides around 500 apartments in two phases.
Half of the first 249 apartments are four-bedroom units from 1,250 to 2,020 sellable sq ft, 25 percent are three-room types and the rest come with two bedrooms, measuring 900 sellable sq ft. There are also seven houses.
Stepping down a notch, New World Development (0017) launches 10 flats at Pavilia Hill in North Point on Monday. They include four four-bedroom units and six others with one to two bedrooms.
In the mass market, SHKP has presales permission from the Lands Department for 932 homes at the second phase of Century Link in Tung Chung.
So does Cheung Kong Hutchison for the 872 units of The Beaumount II in Tseung Kwan O.
And CK Hutchison executive director Justin Chiu Kwok-hung sees home prices rising another 5-10 percent this year. ADAM XU
