THE public auction of three lots, scheduled for March 1, will be the next gauge of confidence in the residential market.
Developers will be given a wide choice of location, the lots being in Kowloon, Tuen Mun and Tai Po.
The biggest is an 18,490 square metre site at Area 7 in Tai Po. The developer has to develop a gross floor area of at least 26,626 square metres.
Bidding interest is expected to be strong because Tai Po, with access to the Kowloon-Canton Railway network, is emerging as a new residential centre in the New Territories.
Prevailing prices of top quality residential flats in Tai Po have already exceeded $4,000 per square foot.
The second plot of Crown land being auctioned next month is a 7,059 sq m site at the junction of Farm Road and Ma Tau Wai Road in To Kwa Wan - zoned for use as private residential land and for youth and child care centres.