Carlin Enterprises International is offering a luxury residential project in Queenstown, New Zealand, for sale at 'attractive prices' to boost buying interest.
The large development, Lakeside Estates, will provide 38 houses, between 2,500 square feet and 3,000 sq ft, each with three to eight bedrooms.
Chief executive officer Kevin Carlin said each house and lot was selling at between US$400,000 (HK$3.1 million) and US$1 million. He said the launch price was attractive as the company would release the development for sale in phases.
'Prices will go up at each time we offer a phase for sale,' he said.
Bank of New Zealand would provide mortgages of up to 80 per cent for buyers of Lakeside Estates at an annual rate of 6.5 per cent, Mr Carlin said.
The project, due to be completed in seven years, will cost an estimated US$40 million.
