Cheung Kong offers big discounts for City Point flats
First 350 flats at City Point to get cuts of up to 15.75 per cent after tweaking of stamp duty rule
Cheung Kong will release flats with discounts of up to 15.75 per cent at City Point in Tsuen Wan, the first housing estate to go on sale after the government proposed easing the terms of the double stamp duty.
"The launch prices are low as it is 20 to 30 per cent less than nearby projects after the discounts," said Iris Leung, a sales director at Centaline Property Agency.
Current average transaction prices at the seven-year-old Vision City are HK$12,866 per square foot, while the going rates are HK$9,660 per square foot at the adjacent Chelsea Court and HK$10,410 per square foot at Indi Home.
Justin Chiu Kwok-hung, an executive director of Cheung Kong, said the prices at City Point were designed to help buyers wanting to trade for bigger units.
"We are offering the first batch of units at lower prices in view of the government's proposed easing of stamp duty rules to help upgraders. We also want our buyers to be happy with the price," Chiu said.