CHEUNG Kong (Holdings) kicked off the sale of Lynwood Court, the phase-five development of Kingswood Villas in Tin Shui Wai, by disposing of 100 units privately yesterday. Cheung Kong said the sales response was 'very spontaneous' but did not reveal the selling price. Estate agents said the internal sale was intended to test buyers' response before finalising the selling price for the public offering at a date to be fixed. Cheung Kong said the Lynwood Court launch was first scheduled for March 1996, but overwhelming consumer demand prompted an early release. 'A portion of the limited number of units from Lynwood Court slated for internal sale has now been allocated for private sale to those who have registered keen interest,' it said. For the public launch, agents expect an average selling price of about $2,300 per square foot, slightly higher than the last sale price of about $2,222 per sq ft in September. Cheung Kong is said to be offering a 13 per cent discount to buyers making immediate payment. The discount for buyers who opt for staggered payment will be 5 per cent. Lynwood Court, comprising 2,864 flats in 10 blocks, is the biggest residential project to go on sale for the next few months. Perry Fong, senior sales manager of Centaline Property Agency's Kingswood Villas branch, said an average price of $2,300 per sq ft was acceptable to buyers. He expected Cheung Kong to release the Lynwood Court units gradually to avoid flooding the market. Agents said other sweeteners for the sale included special discounts on mortgage rates and the provision of furnished units and shopping services. Cheung Kong said 3,022 units of Kingswood Villas had been sold since June. Sun Hung Kai Properties is releasing three more houses of its low-rise Aegean Villa development in Clearwater Bay for sale today. The houses, measuring 2,291 sq ft, will be offered at an average of $6,635 per sq ft. Sino Land is preparing the sale of Sea Crest Terrace at Mui Wo, Lantau Island, and plans to open the show flats for public viewing this weekend. It comprises 45 flats, from studio units to three-bedroom apartments.