Cici Cao

Hong Kong's developers have kicked off a price war with Henderson Land's (0012) Eight Southpark and Wang On Properties' (1243) Coasto offering huge discounts to lure buyers.

Eight Southpark in Kowloon City unveiled its first price list of 63 flats with an average price of HK$17,388 per sq ft after discounts, nearly 30 percent lower than that of nearby new homes launched more than two years ago.

The flats include 37 one-bedroom and 26 two-bedroom units.