The first price list of 68 units in Yuen Long Wang Yip Street West, which is owned by Star Properties and has been on the market for about 10 months, was announced yesterday, with an average price of $14,491 per square foot in real terms, which is close to the second-hand price of $14,200 for the neighbouring Long Ping 8, but 15% lower than the second-hand price of the newer Long Shing Hui, which is also close to Long Ping Station, with a discounted admission of $3,958,700 for an open-plan unit of 276 square feet.

Star Property Chairman and Chief Executive Officer, Mr Chan Man-fai, said the first batch of flats will be priced at "sunshine after the rain", with a modest discount to recent first-hand property transactions in the same district.

Star Property's Managing Director of Sales and Marketing, Mr. Liu Hanwei, said that the first price list after the rainy season will consist of 68 units, ranging from open-plan to three-bedroom units with storage partitions, with a usable area of 276 to 717 square feet, priced at $4,214,884 to $12,186,132, at $14,243 to $17,379 per square foot, with a maximum discount of 6% for cash or immediate mortgage plan A. Discounted prices range from $3,958,700 to $11,454,900, at $13,388 to $16,336 per square foot.

The entry unit is Flat H on Level 5, with a usable area of 276 sq ft and an open-plan flat at a discounted price of $3,958,700 and a discounted price of $14,343 per square foot. Three of the units are priced below $4 million, while 64 units (over 94%) are priced below $10 million.

In addition, each unit will receive a $10,000 cash voucher each for City Workshop, City Mini Storage and City Wine Cellar, as well as a set of wood pavers and metal grille cabinets with faux wood cladding for use on its air conditioner deck.

The first batch of properties in Yuen Long are priced attractively after the rains, and are within easy reach of the MTR Long Ping Station. Compared with Long City Club, the second-hand price of the property is about 15% lower, and there are large shopping malls nearby, which shows that there is great potential for appreciation.

The new concept of green and low-carbon living and sustainable development will appeal to young customers, and it is expected to attract long-term investors, who will account for about 30% of the total, in addition to car users.

Centaline Property Asia Pacific Vice Chairman and President of the Residential Division, Mr. Chan Wing Kit said, in the post-epidemic recovery phase, the developers in the competition under the price restraint, after the rain, the first price list to open prices than the end of the new developments in the same area about 15% discount, I believe that can attract the car and white two owners to change the property, because the private building with clubhouse support and appreciation capacity than the HOS more superior, because of the rain after the low admission fee, I believe to attract long-term investors to buy property to collect rent.

On the other hand, the second round of sales for 171 units in Phase 2B of Sun Hung Kai Properties' Tuen Mun Siu Hong NOVO LAND closed on Monday night. SHKP's acting general manager, Mr Chan Han-lun, said that 9,957 tickets were received (including 192 tickets from agents), which was more than 57 times over-registered. He added that the property will be put up for sale tonight at the earliest and the third round of sales will be held on Sunday (12).

The first price list of 56 units, all one-bedroom units with a saleable area of 338 to 349 square feet, will be sold on Saturday at a discounted price of $5,806,900 to $7,768,700 and a discounted price of $16,888 to $22,518 per square foot, after a maximum discount of 11.75 per cent. The sale price of the property ranged from $16,888 to $22,518. Li Sun Development's Senior Vice President, Mr Poon Rui Man, said the property had been fully sold out, with the majority of customers being families from the same district and about 10% of investors from outside the district.

Kowloon Development's Hoi Yin Estate in Tseung Kwan O also put 26 units on sale this Saturday, all one-bedroom units with a saleable area of 280 to 300 square feet at a discounted price of $5,496,460 to $6,300,750 and a discounted price per square foot of $19,354 to $20,882.

Hysan Development and HKR Development have just been awarded the certificate of compliance for the development of Lam Hoi Shan City at Lo Fai Road, Tai Po. The developer has announced that it will arrange for buyers to take possession of the property this month and will put up 53 units for sale by tender on 11 March, including 34 standard units, 6 penthouse units with rooftop features and 11 ground floor units with garden features, with saleable areas ranging from 1,028 to 2,745 sq ft.