WHEELOCK Properties will release the first batch of 100 units in phase six of its Parc Oasis in Yau Yat Chuen for about $7,000 per square foot in the middle of the month.
Wheelock Properties managing director Ray Tse said the price reflected market conditions.
'Although we have yet to make a final decision on the price, I believe that this initial figure reflects market conditions in recent months,' Mr Tse said.
He said four to five banks would provide mortgages for buyers of flats in the new phase.
He ruled out co-financing for the site, meaning buyers would have to pay a normal deposit of 30 per cent.
The units measure 651 sq ft to 1,033 sq ft.
Property agents said the price set was reasonable, because an above-market price would damage the fragile recovery in the housing sector.