The new development at Siu Sau Tsuen in Tuen Mun, a joint venture between two of Hong Kong's leading local property developers, will be available in 2023 at a price that will blow the city away. The Siu Sau Village project is being developed in two phases, comprising four residential towers of approximately 20 storeys, providing a total of 800 units, with the first phase of the project involving 400 units in Blocks 1 and 2.

Phase 2, comprising Blocks 3 and 5, will also provide 400 units, ranging from 263 to 722 square feet in saleable area, with a range of one-, two- and three-bedroom units. The project is expected to have a key date of 31 December 2024.

The first price list for Phase 2 was announced in mid-March, involving 88 units, concentrated in Block 5, priced at $3,611,000 to $11,113,000, with a list price of $12,990 to $16,438 per square foot, a discounted price of $3,069,000 to $9,239,000 and a discounted price of $11,042 to $13,972 per square foot.

The entry unit is Flat H on 1/F, Block 5, with a saleable area of 266 sq ft at a discounted price of $3,069,000, and the lowest discounted price is Flat K on 1/F, Block 5, with a saleable area of 480 sq ft and 2 bedrooms at a discounted price of $11,042.

The 2-bedroom flat is Flat K on 1/F, Block 5, with a usable area of 480 sq ft at a discounted price of $5.3 million and a discounted price of $11,042 per sq ft. The 3-bedroom flat with a discounted price of $8.320 million is Flat E on 1/F, Block 5, with a usable area of 722 sq ft and a discounted price of $11,524 per sq ft.

After the launch of 95 units on 18 March, the third price list of 109 units was launched on 19 March at the original price, at an average price of approximately $12,977 per square foot. The project is temporarily offering 3 price lists with a total of 292 units. Due to the difference in view and orientation between Phase 2 and Phase 1, as well as the adjustment to market conditions, the price has been discounted by over 10% compared to Phase 1. This time, Phase 2 is available at a market shocking price, which will be sought after by young users and freeze the purchasing power in the area.

In fact, the area around the Tai Lam section of Castle Peak Road and the So Kwun Wat section of the same district has seen a large supply of new developments in recent years, and the take-up rate is very good. In addition, there are plenty of recreational facilities in the community, including the old and new Café Bay beaches, Tsing Lung Park and MacLehose Trail for public enjoyment.

In addition to the residential properties along the MTR East Rail Line, the Northwest New Territories has also attracted many tertiary students in recent years, making it a popular rental area due to the abundant supply of small and medium-sized flats. With competitive pricing, it is expected to attract a large number of buyers and freeze some of the secondary purchasing power in the area.

There are two tertiary institutions in Tuen Mun, Lingnan University and Chu Hai College of Higher Education. Apart from students, there are also non-local professors and tutors who have a demand for rental properties, creating a rental force in the area and adding value to the project.

Also in the area is the renowned Harrow International School of Hong Kong, the first boarding and full-time international school in Hong Kong. The school follows the educational philosophy, teaching methods and traditions of Harrow Public School in the UK and integrates them into Hong Kong's diverse and international society. Many parents who want their children to be educated at this school are eager to have their next generation attend the school and even move into nearby properties, which is a key factor in stimulating property rental and sales transactions in the area.