Hutchison Whampoa

Hunghom Peninsula to test price levels

PUBLISHED : Wednesday, 07 June, 2006, 12:00am
UPDATED : Wednesday, 07 June, 2006, 12:00am


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New World Development and Sun Hung Kai Properties will launch former subsidised housing estate Hunghom Peninsula next month, with a target price higher than the secondary market price of private developments in the district.

'We plan to sell Hunghom Peninsula in the middle of July, after the refurbishment of show flats has finished. The renovation of the project will be finished next year,' said Barbara Ho Ng Yin-yue, a New World Development sales and marketing director.

'We have not decided on the asking prices of the project, but I believe our new project will achieve a higher price than [other] projects in the area.

'Even though our project was built as a home ownership scheme, prices will be higher than Whampoa Garden and Royal Peninsula.'

Property agents said the average price at Whampoa Garden was $4,400 per sqft and at Royal Peninsula it was $5,000.

They expected Hunghom Peninsula flats to be priced from $4,000 to $6,000 per sqft as 60 per cent of the flats have sea views and the project is next to the Hunghom KCR station.