The Hengpo project surprised the market with its release of pricing and sales plans on Tuesday evening. The initial offering consists of 30 units ranging from 262 to 462 square feet, featuring 1-bedroom and 2-bedroom layouts. Prices range from HK$6.11 million to HK$12.29 million, translating to HK$20,367 to HK$27,805 per square foot. Sales are set to commence this Saturday, the 22nd, pending the reception of the initial batch.

Developers have indicated that the property market has weathered its most challenging phase, and they will decide on subsequent unit releases or price adjustments based on the sales performance of the initial batch.

Hengpo offers three payment options. Cash buyers who settle within 60 days can enjoy discounts of up to 16%, reducing prices to approximately HK$5.132 million to HK$10.323 million, or HK$17,108 to HK$23,356 per square foot after discount. Additionally, the project has reached the completion stage and provides two long-term payment plans with a handover period of 368 days, extending beyond one year.

Special promotions for this launch include bulk purchase discounts, with an additional 2% off unit prices for buyers acquiring two or more units. Furthermore, the developer covers the buyer's stamp duty, potentially up to 4.25% of the property price. Factoring in all incentives, the lowest discounted price starts around HK$4.898 million, or HK$16,328 per square foot.

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Hengpo's pricing per square foot, ranging from HK$17,108 to HK$23,356, positions it competitively within the same district's other new developments. Recent transactions in nearby new developments like Ying Chu and Rui Feng have seen prices around HK$18,100 and HK$22,000 per square foot, respectively, indicating Hengpo's relatively lower pricing strategy.

Pan Shuoheng, Development Director of Henghe Real Estate, noted that the pricing of the initial 30 units considers market rates of nearby new developments and the advantages of surrounding facilities. He highlighted the possibility of price adjustments depending on the initial sales performance, targeting homebuyers within the same district looking to upgrade or establish secondary residences, believing that the property market has passed its most challenging phase.

In contrast, Sun International Development's Golden Bay Villa in Tuen Mun, named Yi Lan, has unveiled its project brochure, offering 692 units across two properties, the 3rd and 5th blocks, with the latter split into 5A and 5B wings. Unit sizes range from 182 to 767 square feet, featuring open-plan to 3-bedroom layouts.

Sun International Development's Managing Director of Development, Lee Bing Yu, indicated that preparation for model units is nearing completion. The project plans to introduce demonstration units and release the initial price list based on market response. Sales and Marketing Manager Gu Jinbo disclosed that the initial price list will include at least 140 units, with pricing adjusted according to market conditions.