State Pavilia rolls out fourth list as 168 flats sell out

Staff reporter

New World Development's (0017) State Pavilia redevelopment project in North Point has unveiled its fourth price list after selling out all 168 units in the first round of sales on Saturday.

The new list includes 76 flats with prices starting from HK$17,921 per square foot after discounts. The flats range from 343 to 621 sq ft in size, and cost between HK$6.49 million and HK$15.88 million or HK$17,921 and HK$28,589 per sq ft after discounts. This is higher than the HK$16,888-HK$26,988 per sq ft after discounts on the first list.

The project is the first to sell out its first round of sales this year, with 7,800 subscriptions making the 168 flats 46 times oversubscribed, a new record for the year.

The developer now plans to offer 88 flats for sale in the second round this Wednesday.

Since its launch last month, State Pavilia has sold 188 flats worth a total of HK$2.25 billion.

In Yuen Long, Hava, a Kerry Properties (0683) development, rolled out its second price list yesterday for 70 flats at an average price of HK$11,376 per sq ft after discounts, about 7 percent higher than the first batch.

The second price list includes 25 one-bedroom and 45 two-bedroom flats, ranging from 286 to 403 sq ft in size

Discounted prices range from HK$2.84 million to HK$5.06 million or HK$9,943 to HK$12,736 per sq ft.

As of last yesterday, Hava had received over 5,000 subscriptions for 190 flats, making them subscribed 26 times over.

Also in Yuen Long, High Park II by Asia Standard International (0129) recorded 27 weekend deals worth more than HK$120 million.

Since its launch in late November last year, High Park II has released 361 flats and sold 304 of them, accounting for over 84 percent of the available units.

In Tseung Kwan O, Grand Seasons, developed by Wheelock Properties, recorded six deals totaling HK$33.47 million between last Friday and Sunday.

The Seasons series has sold 1,021 flats since its launch in March last year, generating nearly HK$6.35 billion in total.

Elsewhere in the primary market, the second phase of Belgravia Place in Cheung Sha Wan, developed by Henderson Land Development (0012), is expected to launch its first round of sales shortly.

In the secondary market, nine transactions were recorded in the 10 major blue-chip housing estates over the weekend, 12 percent more than the previous week, according to Midland Realty.