For property Peninsula East. The reason why the price seem a bit lower than normal, one single property can not conclude that the property price will down apparently.
1. Peninsula East only a small size property project with only 256 unit;
2. The location was not good and located at industrial area and far away from MTR;
3. It still need 28 months before completion of the project and passed to the buyer. The interest rate will count for about 6 % lower the normal price;
4. It take only $1000 construction cost per feet is quite low and we can imagine that the qulity of the building will be quite bad compared with the recent normal construction cost around $ 4000.
I think if you walk around the building area, you will found more reasons why the selling price seems lower than normal.