Hong Kong’s New World, Far East slash prices at Pavilia Forest I flats to 8-year low
- The first 60 flats of Pavilia Forest I are on offer for as little as HK$16,008 per square foot, with discounts of up to 18 per cent from new launches in the neighbourhood
The first 60 flats of the Pavilia Forest I project are being offered for as little as HK$16,008 (US$2,050) per square foot, with discounts of up to 18 per cent from the prices of new launches in the same neighbourhood, according to Midland Realty. The first flats on offer, ranging between 234 and 512 sq ft (47.6 square metres), are priced from HK$3.86 million to HK$9.87 million.
The project’s pricing is “aggressive” because “the discount on the first batch of units is a new low in eight years in the Kai Tak area, and a discount of nearly 30 per cent compared to the price of leftover units in the same area,” said Sammy Po, the chief executive of Midland’s residential division.
Pavilia Forest I comprises 291 apartments in two residential towers. There are 28 one-bedroom flats in the project, 205 two-bedroom units and 46 three-bedroom apartments. The remaining 12 homes are larger, more expensive “special units” that come with balconies and rooftop space, the developer said.
