Sales start at Century Gateway Tuen Mun and Double Cove Ma On Shan
Prices for the 2,000 flats offered by SHKP and Henderson Land include sweeteners but show that government cooling measures haven't hurt
Tuen Mun and Ma On Shan are set to become the latest battlefields for developers when two housing projects together offering more than 2,000 new flats are released for sale.
Sun Hung Kai Properties (SHKP), Hong Kong's biggest developer by value, fired the first salvo in the fight for buyers by releasing 107 flats at Century Gateway in Tuen Mun for pre-sale for about HK$11,000 per sq ft yesterday, beating Henderson Land to the draw.
As of 7pm, Henderson Land Development said it would offer 314 flats in its joint venture Double Cove project in Wu Kai Sha, with prices averaging HK$8,800 per sq ft and pre-sales this Friday.
The project is a joint venture with New World Development and the Peterson Group.
The pricings show that developers have not been influenced by recent measures aimed at making homes more affordable.
SHKP's selling price includes a car parking space which it says is worth HK$1.1 million, and the developer says it will deduct the amount if a buyer decides not to take the space. An additional sweetener on offer to buyers at Century Gateway is a rebate equivalent to 3 per cent of a flat's value if the transaction is completed within 120 days.
SHKP Club membership will also entitle buyers to an additional 3 per cent price discount.