SUN Hung Kai Properties will put its Woodland Crest in Sheung Shui on the market on October 28. The first batch of 96 flats will be priced at an average of $3,497 per square foot, higher than estate agents' expectations of $3,000 to $3,300. There will also be an internal sale for 18 homes. Woodland Crest is a large-scale residential project at Tin Ping Road, which will consist of 540 flats when the project is completed in the middle of next year. There are blocks of nine floors each. The size of the flats in the first batch for sale is between 1,063 and 1,179 square feet. Registration for buyers will begin on October 20 and end on October 25. Car-parking spaces are on sale to home-buyers at $184,000 each. Estate agents said the pricing of Woodland Crest homes was relatively high compared with other new developments in the New Territories. Angus Hui Wai-pong, senior sales supervisor at Centaline Property Agency's Fanling-Sheung Shui branch, said he expected a cool response to the sale. He said buyers would have other choices at this price range, such as Hang Lung Development Co's Parc Versailles in Tai Po, which was priced about $3,300 to $3,500 per square foot. Woodland Crest's pricing was slightly higher than the level achieved in the secondary market. In addition, Mr Hui said the financing arrangements were not attractive. Sun Hung Kai Properties said it would offer cash buyers an eight per cent discount, putting the sale price at $3,217 per square foot. However, they must complete their purchases within a month. Sun Hung Kai Properties will provide these buyers with a mortgage loan of up to 10 per cent. Home-buyers are allowed another payment alternative under which they are required to pay 20 per cent of the flat's price in 14 days. Another 20 per cent must be paid in 20 interest-free monthly instalments from December 1, with the balance settled before July 31, 1997. Buyers who choose the option will have to pay a seven per cent premium to the listed price. Mr Hui said he expected some home-seekers, who had business interests in China, would be attracted because the development was near to the Sheung Shui Kowloon-Canton Railway station. Meanwhile, Playmates Properties said it would release 20 more flats at its Village Garden development in Happy Valley. It said buyers would get $500,000 back after completion of the transaction. Taking into account the $500,000, the selling price is about $5,890 per square foot, which is more than eight per cent higher than the price the company was asking for 10 apartments that went on sale last Sunday. Swire Properties said the latest sale of 24 flats at Robinson Place Tower One would be held today on a first-come-first-served basis. Buyers of units costing $8 million and above will have the option to lease a car-parking space. They will be eligible for a 60 per cent discount on furniture bought from European furniture house Annon Design.