SUN Hung Kai Properties has raised the prices of its next batch of flats to be released at Pristine Villa in Sha Tin by slightly more than three per cent, signalling renewed confidence in the primary sales market.
About 35 flats are being offered at an average of $5,900 a square foot in the latest sale at Pristine Villa on Saturday.
This is $200 more than the developer charged for flats in its sale of units in July and this month but still slightly cheaper than the going rate for residential properties in central Sha Tin.
The average for luxury homes in central Sha Tin is now $6,000 a square foot, according to property consultant Brooke Hillier Parker.
Sun Hung Kai's decision to push prices higher reflected strong interest in the area, said David Faulkner, senior partner at Brooke Hillier Parker.
'Sha Tin is very popular. The prices at Pristine Villa reflect its accessibility to Sha Tin,' he said.