Units to sell at a premium

Kowloon Development will release its residential project Verandah Garden in Kwun Tong at about $4,200 per square foot.

The sale of the first 10 units will take place on July 26.

Registration for buyers runs from July 22 to 23.

Midland Realty Kwun Tong branch supervisor Lo Ka-ming said prices in nearby flats, with an average age of 20 years, were $2,800 to $2,900 per square foot.

He said the aggressive pricing might dampen interest for Verandah Garden as potential buyers remained price sensitive.

The project is a joint venture with World Union Investment.