A LONG-awaited turnaround seems to be approaching for the depressed residential property market.
Encouraging sales results have been reported over the last few days, including the release of Hutchison Whampoa's remaining Oasis units in Ap Lei Chau and Swire Properties' Robinson Place in Mid-Levels.
This came despite a decision by developers to raise prices moderately.
Swire raised the prices of its remaining units at Robinson Place by 5.4 per cent to $6,993 per square foot, while Henderson Land offered its Fairview Height in Mid-Levels at a higher-than-expected $5,982 per sq ft.
Prices of the latest 128 units at Henderson's Flora Plaza in Fanling have gone up about six per cent to $3,030 per sq ft.
The developers' move to increase prices may indicate a possible end to the price war that has broken out over new flats.