PARK SILICON Phase 2 Launch Sells 56 Units for HK$417M
AM730 · 1 SOURCESabout 1 hour ago1 MIN
Summary
Wheelock Property's PALO SPRINGS at Gutong North sold all 56 units in its first batch on March 16, generating HK$417 million, with the highest price per sq ft hitting HK$23,604 — a new benchmark for the Northern Metropolis development zone. One major buyer purchased four units totaling HK$25.91 million, while another Shenzhen family crossed the border specifically to purchase, reflecting strong demand from cross-border tech professionals and local villagers.
Key Points
- First-day sales of 56 units generated approximately HK$417 million
- Peak unit price of HK$23,604 per sq ft set a new record for Gutong North's private residential market
- One buyer employed a "one customer, four properties" strategy, acquiring two open-plan two-beds, one enclosed-kitchen two-bed, and one open-plan one-bed for HK$25.91 million
- Buyers comprised mainly New Territories villagers, cross-border tech and business elites, Shenzhen families, and long-term investors
- The project partnered with SF Express Hong Kong to offer doorstep delivery of property brochures
Why It Matters
The strong sales performance signals robust market confidence in the Northern Metropolis, particularly for properties near the upcoming Gutong MTR Station. The record-breaking price psf establishes a new value ceiling for the entire district, reinforcing Gutong's transformation into a prime residential hub within Hong Kong's strategic growth area.
The strong sales performance signals robust market confidence in the Northern Metropolis, particularly for properties near the upcoming Gutong MTR Station. The record-breaking price psf establishes a new value ceiling for the entire district, reinforcing Gutong's transformation into a prime residential hub within Hong Kong's strategic growth area.