SHKP lowers asking price for luxury units

Sun Hung Kai Properties' release yesterday of the first batch of 50 flats at its luxury Riva residential project in Yuen Long underscored the weakening property market.

At HK$12,268 per square foot, the average price at Riva is about 18 per cent lower than the original asking prices. SHKP previously said its target price tag for flats at Riva was HK$15,000 per square foot on a gross floor area basis.

via Business feed http://www.scmp.com/business/article/1197566/shkp-lowers-asking-price-luxury-units