In the new issue, Midland Holdings' Bu Shaoming expects that Zhenyue will be sold out today, with a major client planning to spend about HKD 50 million to purchase a total of 10 units across 3 floors

New World Development (00017.HK) today (11th) launched the sale of all 64 units at Tsim Sha Tsui's The Avenue in the form of price lists. Paul B, Senior Director of Midland Realty, stated that The Avenue has a prime location with multiple transportation and lifestyle advantages, combined with competitive pricing, leading to a strong market response. It is expected to continue the sales momentum of the group's related projects and could sell out today.

Paul B pointed out that Midland's client base is primarily distributed in Kowloon, accounting for about 50%, with the remaining 50% coming from Hong Kong Island and the New Territories. "The Avenue" has an excellent location, offering both self-living and investment potential, with the proportion of investors reaching as high as 60%, dominating the market. The project is expected to achieve a rental price of about HKD 80 per square foot, with a rental yield exceeding 4%. The firm has about 10 groups of major buyers, with some planning to spend around HKD 50 million to purchase a total of 10 units across 3 floors. The project is close to the high-speed rail station, making travel between the mainland and Hong Kong very convenient, thus it is also popular among mainland clients, accounting for about 50%.

Paul B stated that with several key new developments launching this month, the atmosphere in the primary market is active, estimating that the primary transaction volume in March will exceed 2,500 cases, a significant month-on-month increase, and it will mark the 14th consecutive month of recording over 1,000 active transactions