Upper Central Unveils First Price List from HK$3.99 Million, Lowest in 11 Years

Following the recent interest rate cuts, a new property launch has hit the market. Yuzhou Group (1628) has just released the first price list for Upper Central, a former serviced residence located at 48 Caine Road, Mid-Levels West. The first batch offers 30 units, ranging from studio to two-bedroom layouts, with an average discounted price of around HK$26,251 per square foot.

The lowest-priced unit starts at HK$3.988 million, with discounted prices per square foot ranging from HK$23,004 to HK$30,436. Notably, this project marks the lowest entry price for new developments in the area since the introduction of the First-hand Sales Ordinance in 2013.

The first price list includes 30 units with saleable areas ranging from 155 to 388 square feet, offering studio to two-bedroom options. This batch consists of 17 studio units, 12 one-bedroom units, and 1 two-bedroom unit.

The listed prices range from HK$4.532 million to HK$13.419 million, translating to HK$27,138 to HK$34,585 per square foot. After applying a 12% discount, the final prices range from HK$3.988 million to HK$11.809 million, or HK$23,004 to HK$30,436 per square foot.

The entry-level unit is Unit B on the 12th floor, with a saleable area of 167 square feet. It’s a studio flat priced at HK$3.988 million, equating to HK$23,886 per square foot with the discount. 

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