Sun Hung Kai Properties (SHKP), the first local developer to offer flats on the Internet, sold a 610 square-foot unit in Tsing Yi through its e-auctioning service provider for $2.27 million.
The on-line auction, held on SHKP subsidiary, Red-dots, attracted 173 bids from 45 bidders before it closed yesterday.
The opening bid for the two-bedroom unit at Grand Horizon with a sea view was $880,000 and each bid increment was $5,000.
The selling price, representing $3,721 per square foot, is about 12 per cent lower than SHKP's $2.6 million listed price.
Stephen Tung Yiu-kwan, marketing director of SHKP marketing arm Sun Hung Kai Real Estate Agency, said SHKP was the first developer to sell a flat through the Internet and the price achieved was about 10 per cent lower than the secondary market.
SHKP would consider using this medium after seeing a satisfactory result, but there was no detailed plan at the moment, he said.