Novo Land Phase 3A Launches First Price List of 108 Units

Sun Hung Kai Properties has unveiled the first price list for Novo Land Phase 3A in Tuen Mun, offering a total of 108 units. The selection includes studio, one-bedroom, two-bedroom, and three-bedroom layouts, with sizes ranging from 259 to 686 square feet. The discounted average price is HK$11,398 per square foot.

The cheapest unit is a 259-square-foot studio (Unit D, 3/F, Block 2) priced at HK$2.9988 million after discounts, translating to HK$11,578 per square foot. The lowest-priced one-bedroom unit is 306 square feet, priced at HK$3.7468 million after discounts. For two-bedroom units, prices start from HK$4.5271 million for a 383-square-foot unit, while three-bedroom units start at HK$6.08 million for a 544-square-foot space.

To attract buyers, the developer is offering progressive payment plans with an interest-free first year. Monthly payments for studio units begin at HK$5,000, while one-bedroom units start at HK$7,000. Payments increase in subsequent years, reaching up to HK$15,000 per month for studios by the sixth year.

Sun Hung Kai Properties has described the pricing for Phase 3A as highly competitive, projecting a rental yield of 4% and expressing confidence in strong demand during the summer leasing season. Public viewings of show flats will begin this Friday, and sales are expected to officially start in July.

This price list follows earlier phases, with Phase 3A pricing slightly lower than Phase 3B, which averaged HK$11,598 per square foot, and significantly below earlier phases, such as Phase 1A, which averaged HK$13,188 per square foot.

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