Park Silicon Phase Two Draws Strong Buyer Interest
Thestandard · 1 SOURCESabout 3 hours ago2 MIN
Summary
Wheelock Properties' Park Silicon Phase Two Palo Springs in Kwu Tung drew heavy market attention over the weekend after its first price list was unveiled. The developer said visitor traffic topped 5,000 on Sunday, while subscription checks exceeded 700 on Saturday, indicating demand well above the initial batch on offer.
Key Points
- Wheelock Properties released the first price list for 65 units last Friday, covering the initial batch at Park Silicon Phase Two Palo Springs in Kwu Tung .
- The project's marketing suite recorded more than 5,000 visitors on Sunday, following the launch of the first price list for the new phase .
- More than 700 checks were received on Saturday, representing nearly 10 times oversubscription relative to the 65 flats in the first batch .
- Managing director Ricky Wong Kwong-yiu said most registrants were from the New Territories, while about 30 percent came from Kowloon, Shenzhen and mainland China .
- Wheelock said about 40 percent of interested buyers were investors focused on rental prospects, with two-bedroom units most sought after and three-bedroom homes also attracting upgraders .
Why It Matters
The response suggests developers are still able to draw both end-users and investors when pricing is pitched at accessible entry levels, with discounted prices starting from HK$5.06 million and from HK$15,903 per square foot. The average discounted price of HK$17,671 per square foot for the first batch will also be watched as a reference point for demand in the northern New Territories primary market .