Hong Kong developers roll out 1,300 homes as prices edge up on firmer demand

Hong Kong developers are preparing to launch nearly 1,300 units in the coming days and weeks, with some edging up prices amid improving homebuying sentiment.On Sunday, 261 units at La Mirabelle I will be released, with average prices ranging from HK$15,335 (US$1,958) to HK$19,613 per square foot after discounts of up to 15 per cent, according to Sino Land, one of the project’s developers.The pricing marks a 1 per cent increase on the previous batch, which Sino said reflected the quality of the units.Sales momentum has been strong. All 254 units in the first round late last month were sold on launch day, while 152 of 168 units in the second round on Tuesday were snapped up. The second batch also carried a 1 per cent price increase compared with the initial list.Located on Lohas Park Road in Tseung Kwan O, the project is jointly developed by Sino Land, Kerry Properties, K. Wah International, China Merchants Land and MTR Corporation. La Mirabelle will be delivered in two phases, comprising 2,550 units across four towers.Elsewhere, New World Development and MTR Corporation have released 148 units at Pavilia Farm III above Tai Wai station in Sha Tin. Of these, 98 units will be offered via tender, while a first price list covering 50 units has been issued.Average prices for standard units were set at HK$21,344 per square foot after discounts of up to 20 per cent, according to New World.