News analysis: attractive pricing to draw demand
- Residential launches in New Territories received good response over the weekend
- Attractive offer price is the key contributing factor
- Secondary market price has softened
New project launches were greeted with encouraging response over the weekend. All units of NOVO Land Ph 1A in Tuen Mun and One Innovale – Archway in Fanling were snapped up by home buyers. While attractive offer price is the key contributing factor, this also reflects solid demand for mass-market projects in New Territories, especially Northern Metropolis.
SHKP sold 336 units at NOVA Land Ph 1A. This brought the cumulative number of units sold to 672. This represented 82% of total units at NOVA Land Ph 1A. On the other hand, Henderson Land sold 317 units at One Innovale – Archway. This represented 52% of the total. Both developers will offer additional batch of units for sale this week.
On the other hand, secondary market prices have been softening amid rising effective mortgage rates. According to Centa-City Leading Index, home price has fallen 3.9% YTD.