Lai Sun Development's new residential project, The Panorama in Tsuen Wan, could attract speculative interest despite relatively high prices, estate agents say.
They say speculators could be drawn by limited availability of new residential developments, particularly in Tsuen Wan.
The first 38 flats in The Panorama will be sold at $6,095 per square foot on a staggered payment system.
This does not require buyers to finalise their purchases until the project's completion in July 1998.
The project, a redevelopment of a manufacturing plant, is not restricted by the Government's pre-sale consent scheme and individual buyers will be allowed to resell the flats immediately after purchase.
Estate agents said The Panorama's selling price was 27 per cent higher than transacted prices at the nearby Belverdere Garden, which had been selling for an average of $4,800 per sq ft.
