The Sterling II Releases First Price List of 85 Units
Thestandard · 1 SOURCES1 day ago1 MIN
Summary
China Resources Land (1109) announced on Tuesday the first price list for its Sterling II development in Southwest Kowloon, covering 85 units with sizes ranging from 307 to 730 square feet. The developer is offering discounts of up to 16 percent, with the lowest discounted price starting from HK$5.42 million and the discounted price per square foot beginning at HK$16,930. This marks a 5 percent decrease from the last price list of Phase 1, potentially signaling more competitive pricing as the project enters its next sales phase.
Key Points
- The Sterling II project in Southwest Kowloon comprises 85 units spanning 307 to 730 square feet
- Discounts reach up to 16 percent, with the lowest discounted unit priced at HK$5.42 million
- Discounted price per square foot starts from HK$16,930, down 5 percent from Phase 1's final price list
- China Resources Land (stock code: 1109) is the developer behind the Sterling II project
- The announcement was made on Tuesday, with Jeffrey Sy serving as managing director of CR Land (Overseas)
Why It Matters
The Sterling II's pricing strategy reflects a broader trend of developers adjusting prices to attract buyers amid a challenging property market in Hong Kong. The 5 percent reduction from Phase 1 pricing may set expectations for more competitive offerings in upcoming residential launches across the territory.
The Sterling II's pricing strategy reflects a broader trend of developers adjusting prices to attract buyers amid a challenging property market in Hong Kong. The 5 percent reduction from Phase 1 pricing may set expectations for more competitive offerings in upcoming residential launches across the territory.