PALO SPRINGS Draws 700-Plus Subscriptions on Day One
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Wheelock Properties' PALO SPRINGS, Phase 2 of the PARK SILICON project in Kwu Tung North, opened its show flats and began taking subscriptions yesterday, drawing strong buyer traffic and more than 700 registrations on the first day. Based on the initial batch of 65 units, the project was nearly 10 times oversubscribed, and the developer said it could launch another price list within the week.
Key Points
- Wheelock Properties chairman Stewart Leung Chi-kin and vice chairman and managing director Ricky Wong Kwong-yiu attended the launch at the Tsim Sha Tsui sales gallery yesterday.
- Wong said the project logged more than 5,000 show-flat visits and over 700 subscriptions on day one, with most buyers coming from the New Territories.
- The first price list covers 65 flats, including 23 one-bedroom and 42 two-bedroom units, sized 311 to 480 square feet.
- List prices range from HK$5.949 million to HK$10.198 million, or HK$18,708 to HK$21,379 per square foot.
- After discounts of up to 15%, discounted prices range from HK$5.057 million to HK$8.669 million, with an average discounted price of HK$17,671 per square foot.
Why It Matters
Leung said the project is the first private residential launch in the Northern Metropolis area and is well placed to benefit from the government's push to develop the district. The pace of additional launches and the first sales arrangements will be a near-term test of whether demand in Kwu Tung North can translate into sustained primary-market momentum.