FLAT prices at Taikoo Shing rose to $5,150 per square foot last month. The February price for the Taikoo estate is an increase of $1,317 on the average price recorded in the same month last year. Prices at Taikoo Shing, one of Hong Kong's most sought-after residential developments, increased steadily from February last year to a 1993 peak of $5,009 in August. The trend then reversed, as values began a downward slide lasting several months. Prices began to rise again in December when the average flat price stood at $5,077. Positioned next to the Cityplaza shopping centres and close to sport and leisure facilities, Taikoo Shing is regarded as one of Hong Kong's best-planned large residential developments. In the year between February, 1992, when prices per sq ft were $3,279, and February, 1993, flat prices at the estate rose by only $554 per sq ft.