The premium for the Feiyang site is about $4,990 per square foot of floor area, and after taking into account construction costs and interest, the cost per square foot is over $11,000.

In other words, the first units in Feiyang Phase 2 are priced very close to cost.

Centaline Property Asia Pacific Vice Chairman and Chief Executive Officer of the Residential Division, Mr Chan Wing-kit, said yesterday that the discounted average price of $12,509 per square foot for Phase 2 of Feiyang was the lowest in the past three years since Wetland Seasons Park was launched in May 2020, and nearly 20% lower than the discounted average price of the first units in Phase 1, which was launched in June last year, and even more than the 15% drop in overall property prices last year, with some units reduced by Some units were even reduced by as much as 25%.

He believes that this is a "bloodletting price", where developers sell their properties at any cost, which shows the sincerity of the launch, and buyers will benefit most from the cut-throat competition.

With a low entry barrier and the benefit of a reduction in stamp duty for first-time buyers, the project is set to capture the whole of Hong Kong's user clientele, especially in the New Territories West secondary market, which will be frozen, and is expected to be sold out.

The project is expected to be the new king of the ticket, and is estimated to be 80% occupied, according to Mr. Bo Siu Ming, Chief Executive Officer (Hong Kong and Macau) of Midland Realty's Residential Division.