Sunshine City flats get warm response

PUBLISHED : Thursday, 26 May, 1994, 12:00am
UPDATED : Thursday, 26 May, 1994, 12:00am

HENDERSON Land Development Co has sold nearly 60 per cent of the 68 flats in Sunshine City on the first day of offering.

The company said 40 flats were snapped up yesterday, reflecting improved buying sentiment.

The buyers' response was much better than the previous offering early this month when only 19 of the 68 units offered were sold in the first three days.

The latest sale was still relatively slow as only 110 people had registered to buy.

Peter Wong, supervisor of the Ma On Shan branch of Centaline Property Agency, said the buying sentiment in Sunshine City had improved after a sharp market correction since last month.

He said the residential prices had apparently found support at the current level.

The 68 flats at Block M of Sunshine City are being sold at an average of $5,370 a square foot, down 3.7 per cent from the previous sale.

This was the second time Henderson has cut the price of Sunshine City flats since last month.

The average selling price of the previous sale was $5,577 a square foot, which was about eight per cent cheaper than the sale in March.

In the latest offering, Henderson has promised to offer up to 85 per cent mortgage finance for buyers.