Shenzhen Buyer Acquires HK$5.57M Flat at Kwu Tung Project for Daughter's Education
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Wheelock Properties commenced the inaugural sales launch of PARK SILICON Phase 2 PALO SPRINGS on June 16, offering 100 units comprising 82 units via price list and 18 units through tender. The development attracted a notable buyer from mainland China, with Ms. Tsui, a resident of Shenzhen's Qianhai district, acquiring a one-bedroom unit for approximately HK$5.57 million. She clarified that the purchase was driven by her daughter's educational plans in Hong Kong, representing her first property acquisition in the city. The buyer expressed confidence in the long-term prospects of the Northern Metropolis development, citing the project's proximity to the MTR East Rail Line and multiple schools in the vicinity .
Key Points
- PARKO SILICON is developed by Wheelock Properties and situated on Heung Yip Road in Kwu Tung North, with the total project providing 781 units across two phases .
- Phase 2 PALO SPRINGS comprises two towers (2A and 2B) spanning 27 floors, offering 324 units with saleable areas ranging from 275 to 576 square feet .
- The unit mix includes 52 one-bedroom units, 78 two-bedroom units with open kitchens, 139 two-bedroom units with enclosed kitchens, 52 three-bedroom units with open kitchens, and 12 platform special units .
- The sales event took place at Wheelock's office in Harbour City, Tsim Sha Tsui, where numerous prospective buyers were present during the balloting and unit selection process .
- Ms. Tsui emphasized her long-term investment approach, stating that property purchases should be evaluated based on future prospects rather than short-term speculation .
Why It Matters
The PARK SILICON launch underscores the growing appeal of Northern Metropolis developments to cross-border buyers, particularly those seeking educational opportunities for their children in Hong Kong. This trend highlights the integration between Hong Kong and the Greater Bay Area, with the MTR East Rail Line connectivity serving as a key factor in attracting mainland residents to consider Hong Kong's northern districts as viable residential options.
The PARK SILICON launch underscores the growing appeal of Northern Metropolis developments to cross-border buyers, particularly those seeking educational opportunities for their children in Hong Kong. This trend highlights the integration between Hong Kong and the Greater Bay Area, with the MTR East Rail Line connectivity serving as a key factor in attracting mainland residents to consider Hong Kong's northern districts as viable residential options.