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Micro-sized housing project in Sham Shui Po offers discounts ... and cheapest new Hong Kong homes since 2016

  • The AVA 228 has priced the first 50 flats on offer at a level that equates to a double-digit percentage discount from similar projects

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The showroom for the AVA 228, a project by Magic Sight Holdings, was opened to the media on Thursday. Photo: K. Y. Cheng
Pearl LiuandLam Ka-sing

Hong Kong’s newest micro-sized housing project has been priced at levels that represent a double-digit percentage discount to similar offerings released only a few months earlier.

The offer of cut-price micro flats reflect the eagerness of the developer to adopt a lower pricing ­strategy as the residential market continues to cool.

The 22-storey residential block named AVA 228 – a project in Sham Shui Po featuring 160 flats – has priced the smallest of an initial batch of units, measuring 151 square feet, at HK$18,563 per square foot, or HK$2.8 million (US$356,750), ­according to a price list released by Magic Sight Holdings on Thursday.
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That is nearly 15 per cent lower than the cheapest units offered at micro-flat project T-Plus in Tuen Mun in November.

The first batch of 50 units at AVA 228 by Magic Sight Holdings have been priced at a discount to the T-Plus development launched in December. Photo: K. Y. Cheng
The first batch of 50 units at AVA 228 by Magic Sight Holdings have been priced at a discount to the T-Plus development launched in December. Photo: K. Y. Cheng
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The flats were the most affordable since February 2016, when a 299 sq ft flat at Sun Hung Kai Properties’ Twin Regency in Yuen Long was offered at HK$2.8 million.The

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