Henderson Land Development is to release its Parkland Villas phase-two development in Tuen Mun at sharply lower prices, despite the successful sale of another New Territories housing project on Saturday.
The general manager for sales, Donald Cheung Ping-keung, said the first batch of 28 units would be offered at an average price of $2,348 per square foot for cash payment.
Estate agents said the launch price was about 20 per cent below the $2,700 per square foot transacted prices in the secondary market and would put pressure on the second-hand market in the area.
The sale came after Sino Group sold nearly 90 per cent of 728 units at its joint-venture development, Regentville, in Fanling on Saturday.
Registration for buyers at Parkland Villas phase-two development will run from September 27-29. The units will go on official sale on October 1.
Phase-two comprises 576 units of between 552 square feet and 564 sq ft.