Hong Kong's Park Avenue III has revised the selling price of 38 units, with a net price of 23,125 yuan per square foot

I. Price list revision: 38 units have had their prices adjusted, with a net price per square foot of approximately 23,125 yuan

On April 14th, Bai Aozhuang III officially updated its price lists for units No. 2A and 3A, with a focus on revising the selling prices of 38 units, covering different layouts and catering to both basic and improved needs. According to the developer's disclosure, after this revision, the net price per square foot of the relevant units is approximately 23,125 yuan. Considering the project's location in the core area of Shatin Tai Wai and its proximity to the MTR station, the pricing is in line with the current market situation and has strong competitiveness.

The 38 units involved in this price adjustment cover a wide range of usable areas, including popular layouts such as 1-bedroom and 2-bedroom units, with usable areas ranging from 307 to 534 square feet. After deducting the highest discount from the listed price, the actual price range is reasonable, meeting the needs of local owner-occupiers while also accommodating the budgets of mainland buyers and professionals coming to Hong Kong. The developer stated that this price adjustment was made based on market feedback and the actual situation of the project, aiming to better match market demand and facilitate the smooth progress of the first round of sales.

II. First round of sales: 88 units will be released on Saturday, with time slots allocated to accommodate both large buyers and general buyers

While updating the price list, the developer of Park Avenue III simultaneously announced the first round of sales arrangements on April 14th, specifying that 88 units will be sold in the form of a price list on this Saturday (April 18th), marking the official commencement of the project's sales. The 88 units for sale this time include 24 one-bedroom units, 50 two-bedroom units, and 14 three-bedroom units, with saleable areas ranging from 307 to 814 square feet. The effective prices range from HKD 7.458 million to HKD 17.683 million, and the effective price per square foot is consistent with the revised price list.

To cater to the needs of different buyer groups, this sale has specially set up a period for large-scale buyers to select units, while also reserving some units for general buyers to purchase, achieving a differentiated sales layout. It is reported that large-scale buyers usually refer to investors who purchase multiple units within a short period of time. The participation of such groups also reflects the market's recognition of the value of the Bai Aozhuang III project. Meanwhile, the reserved units provide fair purchasing opportunities for ordinary owner-occupiers, catering to both investment and owner-occupation needs.

III. Buyer composition: Local customers account for 70%, with mainland customers and professionals serving as important supplements

The developer simultaneously disclosed the current project's ticket sales situation. The data shows that as of April 14th, about 70% of the ticket buyers are local buyers, while the remaining 30% are mainland customers and professionals coming to Hong Kong. The buyer structure presents a diversified feature. Local buyers mainly purchase for self-occupation, valuing the project's convenient transportation and living amenities, while mainland customers and professionals coming to Hong Kong pay more attention to the project's location value and asset preservation potential.

As a benchmark project for the collaboration between New World and MTR, Park Avenue III is situated in the core area of Shatin Tai Wai Station, serving as a property above the MTR station. With its well-connected transportation network, it offers quick and direct access to various districts in Hong Kong and mainland ports. Additionally, it is adjacent to the Shing Mun River, boasting superior landscape resources. The project is equipped with a comprehensive range of amenities, including a base shopping mall and large-scale clubs, which have become core highlights attracting buyers from different groups. Furthermore, the project has obtained satisfactory paperwork and is being marketed as a ready-to-move-in property, further enhancing buyers' confidence in purchasing.