Headland Residences in Chai Wan offering homes at 2016 price range

Swire Properties (1972) has unveiled the first price list of the Headland Residences in Chai Wan, offering 120 units at HK$17,565 per square foot on average – a level not seen since 2016.

As the only new development in Chai Wan for nearly 20 years, its prices are comparable to those of the nearby Lime Gala developed by Sun Hung Kai Properties (0016) in Shau Kei Wan, which was launched in 2016 with an average discounted price of HK$17,732 per sq ft.

By contrast, the latest property in Shau Kei Wan – Hip Shing Hong's Oria, unveiled in 2023 – had an average discounted price of HK$23,042 per sq ft on its first price list, representing a premium of 23.8 percent per sq ft compared to the new flats.

Adrian To Wai-yip, Swire Properties’ director of residential, said the pricing for the new project was based on that of the company's La Montagne in the Southside as well as recent transaction prices from other new properties in Hong Kong Island.

Subscription applications will open on Wednesday, with sales arrangements to be announced in the near term, the company said.

Discounted prices of the Headland Residences run between HK$6.4 million and HK$19.4 million, or HK$15,328 to HK$21,614 per sq ft.

The project's first price list contains one- to three-bedroom units, with sizes ranging from 418 to 899 sq ft.

HELEN ZHONG