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Elaine Chan

AT least 100 more units at Flora Plaza in Fanling will be put on sale by Henderson Land Development Co and the Chinachem Group after the sellout of 208 units that were on offer over the weekend.

  Henderson's senior property manager Donald Cheung said details for the second sale, such as when, the number of units and the prices had yet to be decided.

  He said the second sale was prompted by the strong response yesterday.

  'The response was quite satisfactory,' he said.

  Mr Cheung said this was attributable to reasonable prices for the units.

  Average price for the flats was pitched at $2,757 per square foot for cash payments. For the staggered and co-financed payment alternatives, the average was about $2,812 a square foot.

  Estate agents said the price was 20 to 30 per cent lower than the peak prices set for other flats in the district last year.

  They said the selling price was also below secondary market prices of $3,000 to $3,100 per square foot and therefore the strong response was not surprising.

  Eric Tso, assistant sales manager of Midland Realty's Fanling branch, said some buyers were also attracted by the option to buy furnished units for an extra $88 a square foot.

  'The extra 10 per cent top-up mortgage is another attraction and it also helps first-time home-buyers,' he said.

  Buyers can obtain an additional 10 per cent mortgage from the finance vehicle of Henderson and Chinachem on top of the 70 per cent mortgage provided by banks.

  Flora Plaza, in Pak Wo Road, comprises 2,710 units in 10 blocks and is near the Kowloon-Canton Railway station.

  Ninety-eight flats for another New Territories development, Crystal Park, by Kerry Group and Sino Group, were also on offer during the weekend.

  Chow Tsez-lap, sales supervisor at the Yuen Long branch of Centaline Property Agency, said 61 units were sold.

  He said the sale results were encouraging in view of the traffic problem linked to the closure of the Tuen Mun highway.

  He said the average price of about $2,522 per square foot was the highest to date because the units released had considerably better views than those released previously.

  The price is 0.75 per cent higher than the previous release.

  Crystal Park is a twin-tower residential development with 432 units. According to Mr Chow, about 60 flats are unsold.

  The response to Wheelock Properties' luxury residential development at Homantin Hill Road - Parc Regal - was mediocre.

  Estate agents said this was because the units released for sale at the weekend were smaller flats that did not come with parking space.



Flora Plaza flats taken up