Paliburg increases Park Royale price

PUBLISHED : Wednesday, 26 August, 1998, 12:00am
UPDATED : Wednesday, 26 August, 1998, 12:00am

Paliburg Group has marginally increased the average sale price of 60 new flats in its Park Royale development in Yuen Long by $7 per square foot to $2,495 per square foot.

The move follows the successful sale of an estimated 80 per cent of 130 units between Thursday and Monday.

The 104 flats sold for an average $2,488 per square foot, a spokesman said.

Prices for the flats sold over the weekend were about 10 per cent less than the original listing prices.

Originally, Paliburg put 100 of the units on to the market but added another 30 on Sunday due to a good response from buyers.

According to one staff member, as many as 2,000 would-be home buyers visited the project during the sales period.

Flats in this latest batch range in size from 652 to 953 square feet, the company said.

According to a company spokesman, previous units sold well because buyers only had to put down a 5 per cent deposit.