Sun Hung Kai Properties and Henderson Land Development are releasing 38 flats in Block 3 of their joint-venture Royal Peninsula in Hunghom at an average price of HK$3,956 a square foot. Agents said this was above the last sale in May when the price averaged HK$3,898 a sq ft, but an effective price drop considering interest costs in the interim. The developers have arranged banks to provide mortgages at a fixed interest rate of 6 per cent for the first three years and at prime less 2.3 per cent for the remaining loan period. Other offers include free stamp duty and cash rebates equivalent to 7 per cent of the unit price by banks. Registration for buyers will run from January 3 to 5.