According to SHKP's NOVO LAND Phase 2B in Tuen Mun, the first round of 352 units will be put up for sale tomorrow.

The Group will plan for further promotions depending on the sales situation, and will not rule out a further launch this weekend.

The property is being offered by Midland Realty, with the first 10 buyers who purchase a unit through the bank receiving a $3,600 shopping voucher at Ichida Department Store.

Midland Realty's Chief Executive Officer (Hong Kong and Macau), Mr Bo Siu Ming, said that about 35 per cent of the bank's ticketed customers were investors and estimated that the first-hand market would record about 2,800 transactions this month, an increase of more than two times month-on-month.

As for KOKO ROSSO in Lam Tin, a subsidiary of Wheelock Properties, three more transactions were recorded yesterday, with a total of 152 units sold in the second round, accounting for 95% of the available units, and a total of 300 units sold in just seven days, accounting for 98% of the available units.

Mr Wong Kwong-yiu, Vice Chairman and Managing Director of Wheelock Properties, said the previous night's sales were very hot, with many of them being first-round buyers and about 80% being first-time buyers aged 30 to 40.

A new batch of 39 units will be put up for sale today at Kowloon Development's Hoi Yin Estate in Tseung Kwan O.

Assistant General Manager (Marketing and Sales) of Kowloon Development said that the launch will depend on the sales situation and a new batch of units will be launched next week at the earliest. The project has sold a total of 647 units, generating about $3.6 billion in cash, at an average price of about $20,000 per square foot.

On the other hand, Henderson Land's Fanling ONE INNOVALE-Archway is launching eight units of 515 to 898 square feet, each with a rooftop and podium, for tender next Monday. Among them, the largest unit is a 1 bedroom on the 22nd floor of Block A, measuring 898 sq ft, with a 173 sq ft podium and 869 sq ft rooftop.

As for the transaction, Mr Yeung Chung-wing, Director of Marketing and Planning of China Coast Land, pointed out that Unit D on 39/F, Block 2, with an area of 582 sq ft was sold yesterday for $12,717,000 at a price of $21,851 per square foot with a view of the open hills. The project has sold a total of 890 units since its launch, accounting for about 70% of the available units, and has generated over $9.1 billion in cash at an average price of $20,362 per square foot.

Midland Group Chairman Wong Kin-yip believes that with the lifting of the "muzzling order" in Hong Kong, the property market has become more buoyant in the first quarter, and the Budget's adjustment of stamp duty and the reintroduction of investment migrants have added impetus and incentives to enter the market in Hong Kong.

He also pointed out that the pace of new property launches has been accelerated recently, and the prices offered are particularly "fast and accurate", stealing the spotlight and driving the "bullishness" of the property market, which will soon bring about a "return to normal" in terms of price and volume.

Moreover, the epidemic has affected Hong Kong for more than 3 years, and the accumulated purchasing power will continue to be released, coupled with a round of immigration and price splitting wave, it is expected that the purchasing power of the Mainland and Hong Kong will be "thick and thin" this year, and it is expected that the first quarter first-hand transactions are expected to challenge 4,200 cases, a quarterly increase of nearly 4 times. Second-hand transactions are expected to reach 14,000, up nearly 70% quarter-on-quarter, with property prices recording a rise of about 5% during the quarter.