Cheung Kong (Holdings) has raised prices for its Laguna Verde phase five development, making the apartments almost 2 per cent more expensive than those in phase four.
Executive director Justin Chiu Kwok-hung said the price rise was due to a growing number of investors seeking to upgrade their existing apartments over the past month.
Predicting a 5 per cent increase in property prices for the year, Mr Chiu said there was scope to raise Laguna Verde prices a further 2 per cent to 3 per cent.
The developer is releasing 15 units at an average price of HK$4,373 per square foot for public sale on June 25. An internal sale will be held on Sunday. The company said 350 potential buyers had already registered for it. Laguna Verde buyers would also have first rights to rent or buy car parking spaces, Cheung Kong said.