Lai Sun’s Yuen Long Project: A Resounding Success as Buyers Regain Confidence Amid Rate Cuts and Stock Market Gains

Lai Sun's project in Yuen Long, Hong Kong, has been completely sold out as purchasers reestablish their trust. Customers are rushing to Lai Sun’s The Parkland in Yuen Long, buying almost every available unit due to lowered rates and a thriving stock market, which in turn is bolstering market assurance.

By 5pm on Sunday, nearly all of the 98 properties available at The Parkland, situated at 266 Tai Kei Leng in Yuen Long, had been purchased. The majority of these purchases were made by first-time homebuyers, as per the real estate agents.

The sizes of the apartments in The Parkland vary from 265 square feet to 488 square feet. The initial offering includes 80 single-bedroom and 18 double-bedroom apartments. The selling price, after discount, spans from HK$2.43 million (US$313,000) to HK$4.63 million, which amounts to HK$8,614 to HK$10,663 per square foot. All 80 single-bedroom apartments are being sold for less than HK$3 million.

The most affordable apartment is a one-bedroom unit measuring 282 square feet, with a price tag of HK$2.43 million. This closely parallels the lowest priced unit in Domus, a development by Paliburg Holdings in the Hung Shui Kiu region of New Territories in 2015, which was priced at HK$2.39 million.

The developer is gearing up to open a bid for unique units next week, and the rates will remain competitive, says the Senior Vice-President of Lai Sun, Julian Poon Yui-man.