Wheelock Launches Palo Springs Sales with Units Starting at HK$5.48 Million
Thestandard · 1 SOURCESabout 2 hours ago2 MIN
Summary
Wheelock Properties has launched a new price list for its Palo Springs development in Kwu Tung, featuring 33 units with discounted prices ranging from HK$5.48 million to HK$8.76 million . The project, which is Phase 2 of Park Silicon, will hold its first sales round on Sunday with 100 units available, including 82 via price list and 18 via tender . The development has attracted strong buyer interest, with over 2,000 checks received, making the 82 price-listed units more than 23 times oversubscribed .
Key Points
- Palo Springs has released 33 units with sizes ranging from 311 to 481 square feet, priced between HK$5.48 million and HK$8.76 million after discounts
- Price per square foot ranges from HK$17,106 to HK$18,376, according to Ricky Wong Kwong-yiu, Wheelock Properties' vice chairman and managing director
- The first sales round on Sunday will offer 100 units, comprising 82 price-listed units and 18 tender units
- The 18 tender units feature three-bedroom and special flat layouts
- The development has received over 2,000 checks, indicating the 82 price-listed units are more than 23 times oversubscribed
Why It Matters
The strong oversubscription at Palo Springs reflects persistent demand for new private residential developments in Hong Kong's northern New Territories . This launch comes as developers resume pricing and marketing activities following seasonal adjustments, potentially setting a benchmark for upcoming projects in the Kwu Tung area .
The strong oversubscription at Palo Springs reflects persistent demand for new private residential developments in Hong Kong's northern New Territories . This launch comes as developers resume pricing and marketing activities following seasonal adjustments, potentially setting a benchmark for upcoming projects in the Kwu Tung area .