Hing Kong Holdings' plan to sell its Kowloon residential project Harbourview Garden below forecast and secondary-market prices to lure cautious upgraders should be successful, analysts say.
The developer plans to offer the first batch of 11 units on October 18 at an average price of $4,990 per square foot for cash payment - about 10 per cent below secondary-market prices.
Buyers who choose deferred payment will pay an additional 3-7 per cent.
Harbourview Garden, in Prince Edward Road, comprises 32 standard units of 1,160 sq ft and two duplex units of 1,975 sq ft, with an efficiency rate of 74 per cent.
Agents said the project catered for buyers wanting to upgrade their living environments. However, most buyers remained cautious amid market uncertainties, they said.
Midland Realty Kowloon North district manager John Yeung said the launch prices were attractive - the market had expected $5,000 per sq ft - and the development was surrounded by sought-after schools.