HENDERSON Land is increasing the selling price for its Sunshine City units in light of improved market sentiment.
Sixty-eight units at Block E of the Ma On Shan development are on offer at an average price of about $4,900 per square foot, about three per cent higher than the last offering early last month when the market was depressed.
Property agents said Henderson hoped to take advantage of the improved sentiment, but noted the increase was limited indicating developers remained cautious about the residential market.
Peter Wong, Centaline Agencies' branch supervisor, said sales activity had improved in the past month.
'In terms of sales volume, the amount achieved in August is one of the highest records in our office during the past 12 months,' said Mr Wong.
He predicted the sale would be absorbed mostly by end-users in view of underlying market demand.
This was echoed by Ivan Chen, manager of Midland Realty's Sha Tin branch.
He said demand for small and medium-sized units has increased after end-users' buying interest returned last month.