With the hardening attitude of second-hand property owners, some of the purchasing power has been diverted to the primary market. The upcoming sale of KOKO ROSSO in Lam Tin has successfully broken through at a lower price, with over 2,500 votes received in the first two days, and the developer has taken advantage of the situation to launch additional units.

Benefiting from the customs clearance between Hong Kong and China, the first-hand market has recorded nearly 520 transactions since February, which is already more than the 510-odd transactions in the previous month and a five-month high after the 600-odd transactions recorded in September last year.

With a number of new developments in the pipeline for sale, the number of first-hand sales is expected to reach the 1,000 level again this month.

New sales continued to be dominated by the end of the inventory, with over 70 transactions in the past two days.

Three of Sino Land's (083) new developments, namely "Harbourview II" in South West Kowloon, "CapitaLand II" in LOHAS Park and "Park Century II" in Kam Sheung Road Station, Yuen Long, sold 6 units in two days, generating a total of $73.97 million.

Flat A, 22/F, Block 5A, Harbour View, North Point, with a saleable area of 765 sq ft, a 2-bedroom apartment with storage space, a 133 sq ft podium and a 583 sq ft roof, was sold by tender for $43.605 million at $57,000 psf. It was sold in November 2021 for $76.284 million at $52,000 per square foot.