Kwu Tung North’s First New Launch Starts at HK$5.06m
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Wheelock Properties has launched the first price list for PALO SPRINGS, the Phase 2 component of PARK SILICON in Kwu Tung North, making it the district’s first new project to announce pricing . The first batch covers 65 flats, mainly one-bedroom and two-bedroom units, priced from HK$5.057 million to HK$8.669 million after discounts of up to 15 percent, with a discounted average price of HK$17,671 per square foot . Stewart Wong Kwong-yiu said the pricing represents a “Northern Metropolis price” and could serve as a market reference point for the emerging area . The project will open show flats and begin collecting checks from tomorrow, with the first round of sales expected in mid-August and larger-buyer arrangements also planned .
Key Points
- The first price list offers 65 units, including 23 one-bedroom and 42 two-bedroom flats, in Phase 2 PALO SPRINGS at PARK SILICON .
- Entry pricing starts at unit 2A, 6/F, Flat B, a 318-square-foot one-bedroom, at HK$5.057 million after maximum discounts, or HK$15,903 per square foot .
- The cheapest two-bedroom open-kitchen flat costs HK$7.412 million for 433 square feet, while the cheapest two-bedroom closed-kitchen unit costs HK$8.421 million for 480 square feet .
- Wong said nearly 8,000 enquiries have been received, with demand led by two-bedroom closed-kitchen homes, prompting the developer to launch Phase 2 first .
- The full PARK SILICON development at 23 Tsz Road, Kwu Tung, spans two phases with 781 units, while Phase 2 alone provides 324 homes .
Why It Matters
The launch is being watched as an early pricing signal for private housing in the Northern Metropolis, a government-backed growth zone expected to reshape Hong Kong’s land and housing supply pattern . Its emphasis on future MTR Kwu Tung Station access, proximity to the new Huanggang port and investor interest suggests developers are positioning the area for both end-user and cross-border demand .