A total of 362 units were reportedly sold over the two days of the weekend, setting a new record high for new property sales in the past four months, and a staggering nine-fold increase from last week's turnover of 322 units.

Among them, YOHO WEST's first round of sales led the way, selling 338 units, nearly 97 per cent of all units launched, making it a hot topic in the property market.

As the Managing Director of SHKP, Lui said that the sales of YOHO WEST were very satisfactory and there were a large number of potential buyers in the market.

Therefore, the company decided to launch more units to meet the market demand. He also revealed that due to the recovery of the Mainland and local economies, interest rates may peak and start to fall next year, while there is a chance for rents to rise sharply. These factors will boost the confidence of home buyers and are expected to result in a considerable increase in the volume of first-hand property transactions and a steady rise in property prices next year.

SHKP Acting General Manager Wu Chi-yuen expressed satisfaction with the results of the first round of sales of YOHO WEST, which successfully realised more than HK$1.7 billion. He revealed that nearly 10 groups of buyers purchased two units, spending an average of about HK$10 million per group. About 80 per cent of the buyers were purchasing owner-occupied units, while the rest were investors.

In terms of regional distribution, buyers from Yuen Long and Tin Shui Wai accounted for 45 per cent of the buyers, while the rest of the New Territories accounted for about 30 per cent, and Kowloon and Hong Kong Island accounted for 20 per cent and 5 per cent respectively. In addition, about 5% to 10% of the buyers are professionals who may have benefited from the Government's recently launched "Waive the Levy before Paying the Tax" scheme.

In addition to the success of the first round of sales, YOHO WEST launched an additional 185 new units last night. The flats range from 266 sq ft to 651 sq ft and include open-plan units and premium units with south-facing Tin Shui Wai views.

The discounted average square foot price is $12,593, up about 1.3 per cent from $12,437 for the previous batch of units. The price range is between HK$3,514,700 and HK$10,215,800, with a discounted selling price of about HK$3,040,200 to HK$8,836,600 and a discounted square foot price of about $10,110 to $15,915. The lowest entry price of HK$3,040,200 corresponds to a 288 sq ft 1-bedroom flat on the 5th floor of Block 2B, Unit B5, with a discounted square foot price of around $10,556. And the highest price was a 3-bedroom en-suite partitioned unit with an area of 652 sq ft in Room B1, 27th floor of Block 2B, with a discounted selling price of about HK$8,836,600, or a discounted square footage price of about $13,569.

The successful sale of YOHO WEST has once again demonstrated the strong demand in Hong Kong's property market and has brought SHKP considerable revenue. In addition, as the first round of sales of YOHO WEST and subsequent launches have successfully attracted a large number of buyers, it is expected that the sales of other new developments in the same area will also be boosted in the future.

For home buyers, YOHO WEST offers a premium residential option with a prime location and good amenities. Moreover, investors are also likely to get a good return on their investment as rents in the area are likely to rise.