FLAT sales over the weekend have been encouraging. Henderson Land Development Co said yesterday it had sold 120 flats or 90 per cent of the launch of 128 units at Flora Plaza in Fanling on the first day of the sale. The development, jointly owned by Henderson Land and the Chinachem Group, is one of the biggest residential projects to be launched in the New Territories recently. On Friday, the company said about 186 people had registered to buy 128 Flora Plaza flats. A Henderson Land spokesman said less than 10 Flora Plaza flats were unsold by late yesterday afternoon. The developers had not decided whether they would put more units on the market, the spokesman said. The units on sale yesterday were priced at about $3,107 a square foot. Estate agents said the results were positive though buyer interest was not as strong as that during the firm's previous offering. The agents said buyer interest in the mass housing market had begun to pick up and this was partly reflected in the market response to the Kingswood Villas flats, offered over the weekend. Cheung Kong (Holdings) said more than 200 apartments at blocks two and five of Lynwood Court, the fifth phase development of Kingswood Villas, were sold in the past two days. The developer originally planned to launch 64 units at block two on Saturday but strong buyer interest encouraged it to release extra units. The average price for units in block 2 was $2,288 per square foot on a staggered payment basis, representing a 3 per cent rise compared to the firm's previous sale in September. The developer did not disclose the price list of units in block 5 but estate agents predicted a higher average price because units offered were on the higher floors of the tower. Cheung Kong is offering a 7.4 per cent discount to buyers who make immediate payment. Standard units in Lynwood Court measure between 576 sq ft and 820 sq ft each. The development also includes 80 penthouse units, each measuring between 1,180 sq ft and 1,750 sq ft. Last week, Cheung Kong privately sold about 100 units in the same block to test buyer response. Meanwhile, Sino Land said yesterday it sold 18 flats of the 20 flats offered at Sea Crest Terrace at Mui Wo on Lantau Island in the past two days. The units at Block 2, measuring between 296 and 816 sq ft each, are priced at $3,500 a sq ft on average. The project comprises 45 flats, from studio units to three bedroom flats. Sino Land offers 20 per cent top-up mortgage, which need not be repaid in the first two years. Buyers who take up this option will have to pay 6.5 per cent more for the flat.
