Figures from the Urban Renewal Authority show that when executive condominiums are included, new private home sales in March amounted to 513.

Excluding executive condominiums, developers launched a total of 573 private residential units last month. Of these, 184 units were sold at The Botany at Dairy Farm, the only new project on the market, which was the main factor driving the increase in new private residential sales in March.

Bona head of property research and content Wong Sau Ying said the good performance of new listings would strengthen developers' confidence.

She pointed out that the average unit price of Man King Hin was $2,070, while the recently launched Tembusu Grand at Li Fung Ka Yuen averaged $2,465, both of which set new highs for new 99-year leasehold projects in the 23rd and 15th postal districts respectively, and sold more than half of their units upon launch.

She expects the next launch of Blossoms by the Park at One City to also perform well, driving new private residential sales higher this month.