Heavy rain puts a damper on buyer interest in second stage of The Uppland in Tuen Mun, say agents
- The average price after discounts was HK$11,126 per sq ft, higher than the HK$10,209 per sq ft in the first round of 188 flats
Heavy rain in Hong Kong put a damper on a property sale in the New Territories on Saturday, despite steep discounts.
Early Light International Holdings, a property developer owned by tycoon Francis Choi Chee-ming, staged the second launch of The Uppland at Gold Coast Bay in Tuen Mun. Some 118 of 139 flats on offer were sold on Saturday, according to real property agents.
The second round of sales comprised of 87 studios, 20 one-bedroom, 27 two-bedroom, and five three-bedroom units, priced between HK$2.23 million (US$285,641)) and HK$7.76 million after discounts, or HK$8,768 to HK$14,051 per square foot. The average price of the units was about 10 per cent cheaper than a project launched last month in the same neighbourhood.
The average price after discounts was HK$11,126 per sq ft, higher than the HK$10,209 per sq ft in the first round of 188 flats.
“We predict Gold Coast Bay The Uppland will sell over 100 units today. The heavy rain and Olympic Games will lower the incentive for flat viewing this weekend,” said Louis Chan Wing-kit, chief executive officer of Centaline Property Agency, the real estate agency’s residential division.