The property market has quickly rebounded recently, with major developers speeding up the pace of launching new projects. Since the government lifted cooling measures, market activity has significantly increased, with nearly 1,000 new units expected to be launched between March 27th and 31st. Among them, SEASONS PLACE in Phase 12A of Sunrise City in Tseung Kwan O has become a focus of attention. Co-developed by Wheelock Properties and MTR Corporation (00066), it kicked off its second round of sales yesterday, releasing all remaining 282 units at once.

Approximately 170 units were successfully sold on the first day, accounting for 60%, and a total of 538 units were sold within five days, achieving a remarkable 82.8% of the entire project. SEASONS PLACE's second-round sale offers prices ranging from HK$4.523 million to HK$12.608 million, with an average discounted price per square foot of HK$15,357 and a discounted price per square foot ranging from HK$14,047 to HK$19,379.

Buyers have shown great interest in SEASONS PLACE, with some Group A buyers snapping up 2 to 6 units each, or a combination of a 3-bedroom or 2-bedroom with a connected kitchen unit. Raymond Kwok, Vice Chairman and Managing Director of Wheelock Properties, revealed that within less than an hour of the project's launch, 100 units were sold, with 20 groups of major clients even buying 6 units each, totaling an impressive HK$40.77 million.

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Additionally, local resident Mr. Ku also joined the ranks of buyers, purchasing a 3-bedroom unit for HK$11 million. The attractiveness of SEASONS PLACE is evident, with market reports indicating that nearly 170 units were sold by 10 p.m. on the first day, and a total of 538 units were sold within five days, achieving a high transaction rate of 82.8%.

On the other hand, projects like Phase 5 of LEO Square in Tai Kok Tsui and HENLEY PARK in Kai Tak, Kowloon East, have also shown strong sales momentum. LEO Square. The second round of sales saw the sale of 20 units, with 40 units sold to date, yielding nearly HK$230 million; HENLEY PARK has sold 361 units, with a total turnover of HK$3.24 billion. Meanwhile, Sun Hung Kai Properties' LP6 project is also drawing attention and will kick off its first round of sales with 38 units this Saturday.

Overall, the hot sales of new projects reflect the market's optimism about the property market outlook and the strong demand from buyers. Industry insiders expect the first-hand property market to reach a record high of 4,200 to 4,500 units sold this month, the highest since 2013. With increasing market activity and confidence, major developers are actively launching projects to meet market demand.