Yesterday, Huangdaxian Hui Ming unveiled the price list for the first 50 units, attracting widespread attention. These units are sold at an attractive average price of HKD 15,326 per square foot, officially kicking off the property market this year. Compared to new developments in the same area, this price is over 10% lower, starting at HKD 3.38 million, making it one of the most accessible new developments in Kowloon in the past two years. The first round of sales is expected to begin as early as next weekend.

The first batch of units ranges in size from 200 to 356 square feet, including 2 studio units, 26 one-bedroom units, and 22 two-bedroom units. Although units with terraces were not included in this release, the price list shows selling prices ranging from HKD 4.84 million to HKD 82.49 million, with square foot prices ranging from HKD 20,360 to HKD 27,260. After a maximum discount of 30%, the average price per square foot is reduced to HKD 15,326.

The Huangdaxian area has not seen a new development for at least five years, making Hui Ming's pricing more attractive compared to new developments in East Kowloon last year. For example, compared to City Horizon by Yu Tai Hing Fai Development, launched in November last year, with an average price of HKD 17,968 per square foot, Hui Ming's price is approximately 14.7% lower.

Compared to J Residence by Kin Wing Development in September last year, with an average price of HKD 18,488 per square foot, Hui Ming's price is about 17.1% lower. Compared to Bal Residence in Kwun Tong, launched in cooperation with Urban Renewal Authority in February last year, with an average price of HKD 19,554 per square foot, Hui Ming's price is reduced by 21.6%.

Among the first batch of units, the lowest-priced unit is Room G on the 3rd floor, with an area of 230 square feet, a one-bedroom layout, and a discounted selling price of HKD 3.388 million, at HKD 14,730 per square foot. The highest-priced unit in the entire batch is Room D on the 2nd floor, with an area of 312 square feet, a two-bedroom layout, and an attached 67 square feet platform. The discounted selling price is HKD 5.7743 million, at HKD 18,507 per square foot.

Cheng Deyun, Executive Director of MAG, stated that the initial pricing was determined based on market demand and described it as a "price that meets all demands," believing that citizens can afford it. The project is set to open its show units to the public for viewing and begin collecting reservations this Saturday, with expectations for a highly enthusiastic response.

Chen Yongjie, Vice Chairman and President of the Residential Department of Midland Asia Pacific, stated that the discounted selling prices for the first batch of units in the new project in Kowloon are affordable for everyone, with each unit priced at no more than HKD 6 million and a low entry fee of only HKD 3.388 million. This price is relatively reasonable in the Kowloon new property market over the past two years and is about 20% lower than nearby second-hand new developments. This reflects the developer's flexible response to market conditions and determination to clear inventory, even at prices below cost.

Bao Shaoming, Executive Director (Hong Kong and Macau) of Midland Residential, pointed out that Huangdaxian Hui Ming's prime location in the city center, near the MTR station, is a significant advantage. The pricing strategy for the first batch of units is highly attractive, offering over 10% in discounts. The developer also provides several enticing promotions.

The new development offers various one-bedroom and two-bedroom units, making it especially suitable for young people looking for their first homeownership opportunity and small families needing more space. It is expected that about 80% of buyers will be end-users, while approximately 20% will be long-term investors. The rental level after the project is completed is expected to reach HKD 50 per square foot, with a potential return rate of over 3%.