WITH thousands of new flats on their books for disposal, developers are carefully assessing market conditions to decide when best to enter the sales market in the Year of the Pig.
Many development sales have been put back from last year due to weak buying sentiment or the difficulties in securing pre-sale consent from the Government, and are now expected to be offered on the market soon.
Property analysts expect developers to be conservative when setting prices for batches of units released early in the new year, with the hope of reinjecting life back into the sluggish market.
The upcoming sale of New World Development Co's 190 flats at Crestmont Villa in Discovery Bay is likely to be the first major residential offering after the Lunar New Year and may kick off a series of residential sales.
The units, measuring from about 1,200 to 1,700 sq ft, will be offered for sale in middle of this month.
HKR International is also planning to launch the sale of its La Costa development in Discovery Bay, which comprises 319 residential units, within the next few weeks.