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Sun Hung Kai Properties sells first batch at Garden Regency in New Territories
The project’s initial list offered up to a 16.0% discount and priced flats at HK$3.93 million to HK$5.88 million for the first 138 units sold.
Sun Hung Kai Properties has sold out the first batch of units at its Garden Regency project in Hong Kong’s New Territories, with all 138 flats launched for sale in the Kam Tin North development finding buyers by 3.30pm on Saturday, according to agents cited by SCMP Economy.
The three tower project will total 566 units, and the outlet said JLL’s Norry Lee pointed to a slowdown in new project launches in Hong Kong, tied to expectations of higher interest rates in the second half of the year.
Lee said higher borrowing costs could slow the market, but SHKP began Garden Regency with a lower price to counter the risk. SCMP Economy reported the first price list showed a maximum 16.0% discount on flats ranging from 289 square feet to 412 square feet, priced at HK$3.93 million, or about US$501,000, up to HK$5.88 million, or about US$748,000.
The outlet also said the initial pricing ranged from HK$11,950, or about US$1,524, to HK$14,795, or about US$1,886, per square foot.