Lai Sun Lures Buyers with 10-Year Low Pricing on The Parkland Units in Yuen Long: An Analysis of the Market Strategy

Developer from Hong Kong, Lai Sun, lists The Parkland property in Yuen Long at a decade low to attract purchasers. The initial 50 units at The Parkland in Yuen Long are being offered at an average cost of HK$9,278 per square foot.

The Parkland, situated at 266 Tai Kei Leng in Yuen Long, is a building comprised of 12 floors with a total of 112 apartments. Lai Sun revealed the pricing for the initial set of 50 apartments on Thursday, with an average cost of HK$9,278 (US$1,190) per square foot. The sale of these units is anticipated to commence the following week.

The cost is 5.3 percent less than the standard expense of HK$9,807 for every square foot for the first group of The Parkhill. The Parkhill, a project initiated by New World Development in 2015, has been developed.

The size of the apartments in The Parkland varies from 265 to 488 square feet. This includes 40 single bedroom apartments and 10 double bedroom apartments. The reduced sale price fluctuates between HK$2.43 million and HK$4.63 million, which translates to HK$8,614 to HK$10,663 per square foot.

Every single one of the 40 one-bedroom apartments is valued at less than HK$3 million.