No price war for Swire at Mount Parker Residences
Developer is offering discounts of 4.25pc, far short of the 20pc cuts at rival projects
Unlike rival luxury home developers with numerous large projects due for launch, Swire Properties won't be taking part in a price war.
Prices at its completed residential project, Mount Parker Residences in Quarry Bay, could set a record in the district.
The first batch of 30 units at the 92-unit development have been priced between HK$21,244 and HK$28,311 per square foot.
At present, the record for the most expensive unit in Quarry Bay is held by a 1,015 sq ft flat at Banyan Mansion in Swire's 40-year-old Taikoo Shing estate. It changed hands for HK$22 million, or HK$21,675 per sq ft, in December.
"Different developers have different pricing strategies, and more importantly, it will be determined by their stocks on hand," said Alex Yau, an associate director at Midland Realty's Island East branch.
While other developers have launched their new projects with attractive incentives at steep discounts of about 20 per cent, Swire is offering just 4.25 per cent off the list price for buyers who sign the preliminary agreement for sale and purchase on or before April 30.
