Developers clearing stocks of new homes

Gordon Yang

Henderson Land Development (0012) yesterday sold six flats at Eight Southpark in Kowloon City for HK$37 million, as developers continue to lower their inventories of new homes.

One of them - a "Sky" feature two-bedroom unit with an area of 358 square feet and a 182-sq-ft terrace - sold for HK$10.39 million or HK$29,017 per sq ft, new records for the project.

Meanwhile, 20 flats go on sale today including 16 studios and four one-bedroom units with areas ranging from 200 to 263 sq ft, at prices ranging from HK$3.72 million to HK$5.90 million after discounts.

All 16 studios will be sold at prices below HK$4 million after discounts.

Eight Southpark has sold 228 flats in two weeks, cashing over HK$1.19 billion.

In Tin Shui Wai, Yoho West Parkside, developed by Sun Hung Kai Properties (0016) and MTR (0066), will launch a third round of sales for 108 flats today at an average discounted price of HK$11,341 per sq ft.

Over 5,800 checks were received for the flats, making them nearly 54 times oversubscribed.

In Sha Tin, The Arles, developed by Centralcon Properties, sold one flat yesterday for more than HK$17.01 million.

In Yuen Long, High Park II by Asia Standard International (0129) old a flat for HK$5.08 million. All one-bedroom units in the project have sold out.

In Tuen Mun, Mori, developed by Road King Infrastructure (1098) and Shenzhen Investment (0604), sold two flats for HK$9.86 million.