Sino Land is to raise prices on more than 300 units at three residential projects by 3 per cent, one day after Henderson Land Development made a similar decision. Analysts said improved sentiment and take-up in recent weeks had boosted developers' confidence in marketing their new projects. They expected other developers to follow suit. The analysts said the recovery in the residential market was gathering momentum after Chief Executive Tung Chee-hwa's retraction in June of his aggressive housing target of releasing 85,000 units a year. A spokesman for Sino Land said prices would rise at Island Harbourview in Tai Kok Tsui, Springdale Villas in Yuen Long and Bayview Park in Chai Wan. After the adjustment, Island Harbourview, with about 200 remaining flats, would be priced at HK$4,900 to HK$8,300 per square foot. Bayview Park's more than 100 remaining units would be priced at HK$3,500 to HK$5,000 per square foot while the seven units at Springdale Villas were about HK$3,000 per square foot. On Tuesday, Henderson Land said it was raising prices by 3 per cent on 650 remaining units at four projects. The four are Metropolis and Metro City phase two in Tseung Kwan O, Parkland Villas in Tuen Mun and Bella Vista in Mid-Levels. The spokesman said Sino Land was also considering raising prices for other projects such as Park Avenue in Tai Kok Tsui and The Astrid in Mongkok. Property agents said they had already been informed that prices at Park Avenue would be raised 'significantly' next week. They said Sino Land had increased Park Avenue's prices several times in the past month in increments of about 0.5 per cent. However, it indicated that next week's price rise would be in the range of 3 per cent to 5 per cent. Andy Wong, district manager at Centaline Property Agency, said recent take-up at Park Avenue had involved mainly smaller units. Mr Wong estimated that there were only 50 units of about 645 sq ft available.