Kwu Tung Palo Springs Launches 65 Units from HK$5.06M
On.cc · 1 SOURCESabout 1 hour ago2 MIN
Summary
Wheelock Properties has unveiled the first price list for Palo Springs at PARK SILICON in Kwu Tung North, the inaugural private residential development in the Northern Metropolis zone. The initial offering comprises 65 units with discounted prices ranging from HK$5.057 million to HK$8.669 million, averaging HK$17,671 per square foot. The project has generated substantial interest with over 8,000 inquiries received, and public viewing will commence on Saturday ahead of mid-month sales .
Key Points
- The first price list offers 65 units, comprising 23 one-bedroom and 42 two-bedroom apartments with saleable areas between 311 and 480 square feet .
- Discounted prices range from HK$5.057 million to HK$8.669 million after a maximum 15% discount across six payment plans .
- The average discounted price of HK$17,671 per square foot exceeds the March launch of Cloud Terrace on Fan Kam Road by approximately 26% .
- Vice Chairman and Managing Director Raymond Wong Kwong-kiu described the pricing as "Northern Metropolis pricing," referencing railway-adjacent projects in the New Territories .
- The entry-level one-bedroom unit is Flat B, 6/F, Tower 2A (318 sq ft, HK$5.057 million), while the entry two-bedroom is Flat D, 6/F, Tower 2A (432 sq ft, HK$7.412 million) .
Why It Matters
The launch establishes a new pricing benchmark for Kwu Tung North and signals developer confidence in the Northern Metropolis vision despite current market conditions. The significant mainland Chinese interest—comprising 40% of inquiries—also indicates cross-border demand for strategically located properties near the Shenzhen border, potentially influencing future supply and pricing dynamics in this emerging district .
The launch establishes a new pricing benchmark for Kwu Tung North and signals developer confidence in the Northern Metropolis vision despite current market conditions. The significant mainland Chinese interest—comprising 40% of inquiries—also indicates cross-border demand for strategically located properties near the Shenzhen border, potentially influencing future supply and pricing dynamics in this emerging district .