The enthusiastic response to the sale of flats at Trinity Towers in Sham Shui Po at the weekend confirmed the existence of solid demand among first-time homebuyers, but the interest in homes requiring payment of a larger lump sum remained to be seen, agents said.
Developers had accelerated the pace of marketing new projects and would make an estimated 7,000 units available for presale in the second quarter, said Patrick Chow Moon-kit, the head of research at Ricacorp Properties. "Offering discounts and preferential terms is the norm now," he said.
Soundwill released the price list for the first batch of 30 flats at its 46-unit Coho development in Causeway Bay on Sunday, with discounts of up to 18.5 per cent.
The prices of the units, which measure 312 to 317 square feet in saleable area, range from HK$8.57 million to HK$12.46 million, or HK$27,060 to HK$39,710 per square foot. Factoring in the discounts, a 312 sqft unit on the fifth floor will cost HK$6.97 million.
Offering discounts and preferential terms are the norm in the market now
After the discounts, prices at Coho are in line with the HK$27,300 to HK$33,000 per square foot paid for second-hand flats at nearby projects.