Henderson Land

Flat sales buoyant at Ma On Shan development

PUBLISHED : Sunday, 12 October, 2014, 6:04am
UPDATED : Thursday, 07 May, 2015, 5:06pm

Encouraged by strong sales, Henderson Land and New World Development will offer a third batch of flats today at their jointly developed Double Cove Starview Prime residential project in Ma On Shan.

Homebuyers snapped up 187 of the 200 flats released to the market yesterday, resulting in HK$1.37 billion in sales for the second batch of flats. The estimated average price was HK$12,800 per square foot.

"We saw strong demand, particularly of the smaller units," Thomas Lam Tat-man, the general manager of sales at Henderson Land, said. "We're considering the launch of between 100 to 150 new units this Sunday."

Lam said the third batch of flats to be released "may cost a little bit more", compared with those from the first two batches.

The sizes of flats in the second batch at Double Cove Starview ranged from 497 sq ft to 1,017 sq ft, with prices from HK$5.92 million to HK$12.85 million.

Buyers were offered a 5 per cent discount for cash payments, and a 6 per cent cash rebate to compensate for the stamp duties.

Estate agents said the street protests did not affect the turnout of buyers as more than 200 people showed up to purchase flats.

Sammy Po, the chief executive at Midland Realty's residential department, estimated that 75 per cent of those buying a flat at Double Cove Starview were doing so for personal use, the rest wanted an investment.

Last weekend, the developers sold 198 units from the first batch of 220 units.