The developer has recently launched three price lists in a row to respond to the market, and yesterday launched the third price list. Kwok Tze-wai, the chief manager of the sales department of Cheung Kong Holdings, said that the batch of units involves 128 units, the average price of the discounted square foot is $14,806, which is about 1.3 per cent lower than that of the first price list last week at an average discounted square foot price of $14,997. The developer said that depending on the market response, it will not rule out the possibility of launching additional units today, and it is expected that the sale will start within a week at the earliest.

Chan Wing Chee, sales manager of Cheung Kong, said that the units to be launched this time include 22 units with open style, 21 units with 1 room, 70 units with 2 rooms and 15 units with 3 rooms, with discounted price of RMB 2.9 million to RMB 10,584,000, discounted price of RMB 13,085 to RMB 16,407, and discounted average price of RMB 14,806.

The project launched the 2nd price list at the original price on the day before yesterday, with average discounted price of RMB 15,063, also covering open-plan to 3-room units, including 7 open-plan units, 72 1-bedroom units, 35 2-bedroom units and 8 3-bedroom units, with usable area ranging from 210 to 718 sq.ft. The price list is priced at RMB 3,590,000 to 14,007,000 yuan, with price list price ranging from RMB 16,034 to 20,175 yuan, and the highest price is maintained. Discount of 19%, discounted selling price of $2,944,000 to $11,346,000, discounted price per square foot of $13,148 to $16,544, totalling over $783 million.

The developer's partner agents have launched home purchase offers. Mr Liu Wai-keung, President of Ricacorp, said that for the first 10 buyers who purchased units in the project through the group, each of them would be offered rental management services valued at $8,000 each, with a total value of $80,000.

He also said that with the Government's initial success in attracting talents, the number of talents and labour importation is expected to exceed 100,000 this year, coupled with mainland students coming to Hong Kong to study in tertiary institutions, and some prospective buyers waiting for the market to turn around, etc., have all contributed to the vibrancy of the rental market. According to statistics, the top 10 housing estates alone recorded more than 500 rental transactions in July; and according to figures released by the Rating and Valuation Department, the private residential rental index has risen for five consecutive months.