One Park Place to start second round of sales on Friday

One Park Place in Yau Tong will begin its second round of sales on Friday, offering 150 units with a total market value exceeding HK$1.02 billion, developers said.

The Yau Tong Ventilation Building residential development was jointly developed by Sino Land (0083), CSI Properties (0497), and MTR Corporation (0066).

This round includes 29 one-bedroom units, 119 two-bedroom units, and two three-bedroom units, with usable floor areas ranging from 293 to 578 square feet. 

Prices after discounts range from about HK$4.27 million to HK$9.5 million, or about HK$14,108 to HK$16,448 per sq ft. 

Among the 150 units, 98 are priced below HK$6 million, according to Sino Land executive director Victor Tin Siu-un.

The project sold out all 150 flats in the first round of sales last Friday, cashing in over HK$835 million, Tin said.

Alongside Villa Garda I of Lohas Park in Tseung Kwan O and Grand Mayfair in Yuen Long, Sino sold a total of 245 units in November, raising over HK$1.6 billion, he added.

With Hong Kong's property price index rising for five consecutive months, Tin believes this indicates a bottoming out of prices and predicts that the upward trend will continue.