SUN Hung Kai Properties is cutting its asking price for the forthcoming release of an additional 65 residential flats at Pristine Villa, Sha Tin.
After the registration programme for the pre-sale of 35 flats in Block 8 finished yesterday, the company announced the launch of a further 65 units in Block 9 and Block 13, making a total of 100 units to go on sale this Saturday..
The average selling price for the units in Block 9 will be $5,748 per square foot, which is 2.5 per cent lower than the price of $5,900 set for those in Block 8.
Prices for units in Block 13 have been pitched at a lower level. Average price is about $5,650 per sq ft, which is 4.23 per cent lower than $5,900 for Block 8, and is 0.8 per cent less than the $5,700 per sq ft achieved in the first offering two months ago, when the market was seriously damaged.
A spokeswoman for Sun Hung Kai said the price reduction was a result of the location of the two buildings being relatively unattractive.
Sun Hung Kai did not unveil the total number of applications yesterday, but the move of launching more units might indicate a positive result.
