Sino Group's sale of its 80 per cent-owned Regentville development in Fanling slowed yesterday according to estate agents, after more than 650 units were snapped up on Saturday.
Agents estimated about 20 to 30 units were sold yesterday afternoon after the developer released all the remaining pre-sale units at an average price of $2,700 per square foot.
The latest prices were about 5 per cent higher than the initial price of $2,568 per square foot for cash payment, which is slightly below the secondary market level.
About 90 per cent, or 655, of the 728 pre-sale units were sold for between $2,568 per square foot to $2,700 per square foot on Saturday.
Centaline Property Agency's Fanling and Sheung Shui district sales manager Angus Hui Wai-pong said prospective buyers remained price-sensitive which meant they would delay purchases once prices approached secondary-market levels.
He said asking prices on the secondary market in Fanling had dropped to $2,600 per square foot from $2,800 per square foot after Regentville development was launched at lower than expected prices.
