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The Parcville in Yuen Long has attracted a strong initial response with more than 2,100 prospective buyers registered for the residential sale on Saturday.

The Sun Hung Kai Properties (SHKP) and New World Development project is the first major residential development for public sale after the Government's relaxation of anti-speculation measures two weeks ago.

The response was the strongest in recent months. In December, SHKP registered 3,800 prospective buyers for The Leighton Hill sale in Causeway Bay.

Sun Hung Kai Real Estate Agency general manager Eric Chow Kwok-yin said SHKP and New World would consider releasing more units at higher prices.

The developers had already offered two batches of additional flats, raising the number available for sale on Saturday to 200.

The first 32 units of The Parcville are priced at an average of HK$2,283 per square foot - about 8 per cent lower than secondary market prices.

On Monday, SHKP also announced plans to raise prices by 3 per cent for about 1,200 unsold units at three projects it solely owns. They are Grand Pacific Views/Grand Pacific Heights in Siu Lam, Chelsea Heights in Tuen Mun and Oscar By the Sea in Tseung Kwan O.

Fortune Realty managing director James Tin said The Parcville was not priced at a deep discount but still secured 2,100 prospective buyers. This indicated that confidence in the market was recovering. He expected The Parcville could easily sell 1,000 units.

Separately, Kerry Properties said it would release 80 more units at Tower One and Tower Three of its Ocean Pointe in Sham Tseng for public sale on Sunday, following a good response in the internal sale.

The developer sold more than 30 units at an average of HK$4,000 per square foot through an internal sale on Tuesday. It has also sold more than 10 combined units so far.

Kerry will arrange another internal sale on Saturday for units on the 50th floor or above.

Meanwhile, other developers also plan to launch their projects soon to take advantage of improved sentiment in the market.

Shun Tak Holdings plans to announce the sale details of The Belcher's in Pokfulam in two weeks, while Cheung Kong (Holdings) is expected to release its 37-unit University Court residential project in Kowloon this month.

Cheung Kong senior sales manager Patrick Ho said the project would be launched at an average price of about HK$5,000 per square foot.

Shun Tak Holdings chairman Stanley Ho Hung-sun said yesterday only a few developers had raised prices recently despite the improved sentiment. But some developers hoped to take the opportunity to reduce inventories.



Parcville lures 2,100 would-be buyers