North District, Hong Kong

Home sales see mixed results

PUBLISHED : Tuesday, 28 November, 1995, 12:00am
UPDATED : Tuesday, 28 November, 1995, 12:00am

DEVELOPERS have recorded mixed results for sales of three separate residential projects held at the weekend.


Henderson Land Development Co saw a near sell-out of 152 flats at its Flora Plaza joint venture in Fanling, while New World Development Co sold more than 70 per cent of 40 units at Blessings Garden in Mid-Levels. Hang Lung Development Co sold about half of 123 units at its Parc Versailles joint venture in Tai Po.


Henry Ngai, manager of Ricacorp Properties' Fanling branch, said the sales of Flora Plaza had stimulated buying activity in the secondary market.


He said buyers' response was not as enthusiastic as in previous sales because prices were raised and more than 1,100 units of the project had been put on the market.


He expected Henderson to include better-quality units in the next batch of Flora Plaza flats for sale at about the same prices to attract buyers.


Henderson originally offered 128 units at $3,048 a square foot on Sunday, and offered 24 more units at the last minute to meet buyers' demand.


The 40 units of Blessings Garden released by New World were offered at $5,438 a square foot, about 10 per cent lower than the prices for similar units, reportedly with better views, at the other tower of the project owned by Lai Sun Development Co.