New World Development (0017) has named its 530 Canton Road project Austin Bohemian, with 63 units slated to go on sale as early as this month, the developer said on Monday.
Market sentiment has improved following recent rate cuts, drawing investors to new developments, prompting the developer to launch Austin Bohemian, according to Cannas Ho Ka-Yan, director of sales and marketing for special projects at New World Development.
She revealed that the sales brochure and show flats for the project are in the final stages of preparation and will be unveiled shortly. The pricing will be aligned with recent transaction prices of projects in the area.
Unit layouts comprise one- to two-bedroom apartments and special units, with an expected completion date of June 2027, giving it a pre-sale period of approximately 20 months.
Ho further stated that the project's price will be guided by recent secondary market transactions and rental rates around Kowloon Station, with the average price of HK$30,000 per square feet, with some reaching HK$40,000 to HK$50,000 per sq ft.
The average rental rate in the area is approximately HK$70 to HK$80 per sq ft, with some units nearing HK$90.
She highlighted the project's prime location, conveniently situated near Austin MTR Station and the high-speed rail station.
With over 20 million sq ft of commercial gross floor area planned for the area surrounding the high-speed rail station, the project is expected to attract business travelers and investors, as well as mainland buyers.
