Tai Fung plans to cater to market demand by releasing more units early this week. As the first new project launched after the "Double Stamp Duty" policy, Tai Fung quickly became the focus of the property market with its low-price opening strategy. Chen Zhimei, Sales Director of Wang Xinxing Group, stated that due to the enthusiastic market response, the project attracted over 9,000 visitors on the first day and over 17,000 visitors in the cumulative two days. Tai Fung is particularly favored by young buyers and families.

Huang Haoxian, Director of Business and Marketing at New World Development responsible for the project, revealed that Tai Fung is expected to go on sale within one to two weeks and plans to offer 3-bedroom units through tender depending on market demand.

Chen Yongjie, Vice President of Residential and Residential Department at Midland Realty, stated that Tai Fung's attractive pricing has attracted many buyers from Kowloon and the New Territories, especially those under 30 years old. Mark Bour, Executive Director of Residences at Colliers International, observed that buyers born in the 1990s and 2000s show great interest in Tai Fung, accounting for the majority of the buyer group.

Internet

He revealed that the current source of buyers is mainly concentrated in Kowloon, accounting for 60%, while the remaining 40% are distributed in Hong Kong Island and the New Territories. End-users account for about 70% of buyers, while investors account for 30%. As the market predicts that Tai Fung's rental prices are expected to reach HK$55 to HK$60 per square foot, with a rental yield of about 3% to 4%, the proportion of investors is expected to increase in the future. Buyers born in the 1990s and 2000s show a high level of interest in this project, accounting for approximately 60% to 70% of buyers.

Tai Fung enters the market with attractive pricing, with the first batch of 168 units priced at an average discounted price of HK$14,808 per square foot, a decrease of more than 30% compared to the first batch of Hao Ri priced at HK$21,548 per square foot at the end of 2021 in the same district. Compared to Sun Hung Kai's Yau Tong Proximity II launched last year, with an average discounted price of HK$14,997 per square foot, Tai Fung's average discounted price is only down by about 1.3%. After the developer's maximum 23% discount, the discounted sale price ranges from HK$3.727 million to HK$8.889 million, with prices per square foot ranging from HK$12,979 to HK$16,161.

The most affordable entry unit is Unit E on the 6th floor of Block 2A, with an open design of 278 square feet, priced at HK$3.727 million, at a price per square foot of HK$13,406. The highest-priced unit is Unit F on the 26th floor of Block 1A, with a 561-square-foot design, priced at HK$8.889 million, at a price per square foot of HK$15,845.

Tai Fung is designed for different customer groups, whether first-time homebuyers or buyers seeking investment opportunities, all of whom can find suitable options here.