"New Projects" Midland's Bu Shaoming: The entry fee for Wong Tai Sin Hui Chun is attractive, expecting investors to account for about 30%

WANG ON PPT (01243.HK) has announced the first price list for its residential project, Hui Chun, located in Wong Tai Sin, involving 50 units, with a discounted average price of approximately HKD 18,088 per square foot and a discounted entry fee of about HKD 3.988 million. Senior Director of Midland Realty, Bu Shaoming, stated that the pricing of Hui Chun's first price list is competitive, and there is strong demand for properties in the same district. The entry fee is attractive, and it is expected to attract investors, with a forecast of a fairly positive market response.

Bu Shaoming pointed out that Hui Chun enjoys the advantage of being near the railway, and the Wong Tai Sin district is well-developed with comprehensive shopping facilities. The same series project, Hui Ming, has been well-received in the market and has sold out its units, reflecting buyers' confidence and demand for properties in the area, which supports the sales of Hui Chun. It is anticipated that about 70% of buyers for this project will be end-users, while about 30% will be investors, with expected rental prices around HKD 55 to 60 per square foot, and rental returns expected to be close to 4%.

Bu Shaoming mentioned that with Hui Chun and several other new developments being launched in the market, it is estimated that the primary transaction volume this month could challenge over 2,500 transactions, and so far, over 1,000 primary transactions have been recorded, representing an 80% month-on-month increase, marking the 14th consecutive month with over 1,000 transactions; secondary market transactions are also expected to warm up, and the overall property price trend is expected to steadily rise