Paliburg Holdings has sold almost half of the 100 units in its Park Royale Development in Yuen Long that had been offered at about 7 per cent less than the official listed price, according to area property agents.
Several thousand flat hunters have trooped through Park Royale since Paliburg introduced its latest sales offer on Thursday.
Chris Chow Tsez-lap, district manager at Centaline Property Agency in Yuen Long, said Paliburg had sold 30 units on Thursday, seven on Friday, eight on Saturday and possibly as many as six yesterday.
'The response has been good,' Mr Chow said. Paliburg's decision to cut prices and to offer 'weekend specials' to buyers had effectively wiped out the second-hand market in the area, he said.
Prices for the 100 flats, which measure 876 or 920 square feet are $2,500 per square foot, down from the previous list price of $2,700 per square foot.
The largest unit, measuring 920 sq ft would cost home buyers about $2.3 million.
