FLAT prices in the New Territories have not escaped the price rises that swept through Hong Kong's more centrally located residential districts in the past year. One of the biggest increases was recorded in Tai Po, where average flat values rose by 50 per cent in the past year. In April last year, flat buyers in Tai Po were paying an average price of $2,884 per square foot. The same purchase today would cost approximately $4,332 per sq ft. Yuen Long prices, including flats in the Kingswood Villas and Sun Tuen Mun Centre, have been steadily increasing in value and, in the 12 months to date, they rose by 49 per cent. To buy a 750 sq ft flat in either Fanling or Sheung Shui now would cost close to $3.3 million. Just one year ago, the same flat could have been purchased for about $2.3 million. This represents a 43 per cent increase in flat values. A more moderate increase was recorded in the New Territories coastal development at Tuen Mun, where flat values increased by 24 per cent. The sample of Tuen Mun prices carried out by Brooke Hillier Parker included flat sales recorded in Handsome Court, Chi Lok Fa Yuen, Handford Garden, Gold Coast, Pierhead Garden, Richland Garden, and The Trend Plaza.
