Following the significant success of Phase 12A SEASONS PLACE in Tseung Kwan O Sunrise City under the collaboration of Wheelock Properties and MTR Corporation, the developers have decided to launch Phase 12B PARK SEASONS project. The brochure was unveiled yesterday, indicating the imminent commencement of sales, with an initial offering of no fewer than 138 units. This phase's residential units are generally smaller in size, suggesting that entry prices may be more affordable compared to the previous phase.
Mr. Stephen Wong, Vice Chairman and Managing Director of Wheelock Properties, stated that PARK SEASONS has received enthusiastic responses from the market, especially for its smaller-sized units favored by homebuyers and investors. Consequently, the developers have decided to expedite the process and release the first price list within this week, with at least 138 units expected to be made available for purchase.
Regarding pricing strategy, Mr. Wong revealed that the pricing of PARK SEASONS will be benchmarked against the selling prices of SEASONS PLACE, considering factors such as location and views, with an expected increase of 5% to 10%. However, the developers aim to stimulate sales and maintain attractive prices, with the expectation that the prices of all units will be below HK$10 million.
The entry-level unit size for this project starts from 314 square feet, which is more compact compared to units in SEASONS PLACE, suggesting that entry fees may be more affordable. Currently, the overall average price of units sold in SEASONS PLACE is approximately HK$14,900 per square foot.
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Mr. Wong further added that based on the sales performance of SEASONS PLACE, one to two-bedroom units are the most popular due to their moderate prices, ease of rental, and higher return on investment. Therefore, all 685 units of PARK SEASONS will be configured as one to two-bedroom units to cater to the needs of small families, first-time homebuyers, and investors.
Ms. Crystal Yu, Assistant Director and General Manager (Commercial) of Wheelock Properties, emphasized that the main selling point of this phase of PARK SEASONS is the extremely convenient connection between the residential tower and the shopping mall, coupled with direct elevator facilities, significantly enhancing residents' comfort.
Meanwhile, Phase 12A SEASONS PLACE has fully disclosed its price list. Mr. Eric Poon, Assistant General Manager (Project Design and Marketing) of Wheelock Properties, unveiled the demonstration unit designed according to the layout of Unit C on the 38th floor of Tower 2A. This unit, covering an area of 453 square feet, features two rooms and an open kitchen, equipped with decoration and handover standards.
Among these 650 units, the most sought-after standard unit sizes range from 322 square feet to 655 square feet. According to the published price list, the most affordable option is the layout of one-bedroom plus open kitchen, with an actual selling price of HK$4.472 million, indicating that the entry price of PARK SEASONS is below HK$4.47 million.
SEASONS PLACE recently achieved good sales performance by selling two units consecutively. One is Unit E on the 8th floor of Tower 3A, covering an area of 286 square feet, plus a 230-square-foot terrace, featuring one room, with a transaction price of HK$5.232 million, averaging HK$18,294 per square foot. The other unit is Unit C on the 16th floor of Tower 3B, covering an area of 338 square feet, also designed as a one-bedroom unit, with a transaction price of HK$4.846 million, equating to HK$14,337 per square foot. This project realized sales of over HK$10 million within a single day, demonstrating the continued strong purchasing power in the property market.
