Billion Development prices Tsuen Wan project at 10 per cent discount to lived-in homes as Hong Kong’s property market reels from protests
- Prices of Billion Development’s new flats at The Aurora are the cheapest in Tsuen Wan in a decade
- But Anthony Poon, director of sales and marketing at Billion Development, says he is not worried by market conditions and expects situation to stabilise soon
Billion Development and Project Management on Tuesday released the first batch of flats at its Tsuen Wan project at discounts of up to 10 per cent to rates prevailing in the district, in the first sign that two months of unrest in Hong Kong is having an impact on property prices.
The Hong Kong builder unveiled 238 flats at the 840-unit The Aurora in the western New Territories, even as sales of secondary homes dropped to a nine-month low, with 48 deals concluded last week, according to a report from Ricacorp Properties.
Billion Development has priced the first batch of 238 flats, ranging from 217 square feet to 859 sq ft, at an average of HK$17,740 (US$2,264) per sq ft after factoring in the discounts.
The smallest flat is priced at HK$3.81 million or HK$17,558 per sq ft.
