PUBLISHED : Friday, 11 November, 2011, 12:00am
UPDATED : Friday, 11 November, 2011, 12:00am


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Midland Realty has forecast that the sales value of first-hand properties in Hong Kong this year will reach a record HK$140 billion. The average price of first-hand properties has shot up 26 per cent year on year to HK$11.8 million. Properties on Hong Kong Island were the most expensive at HK$23 million, up 36 per cent, though Kowloon properties rose 39 per cent to HK$12.8 million. The number of first-hand sales fell 30 per cent to 8,163.