PROPERTY developers are taking advantage of the positive market sentiment following last month's record sale of government land to release their residential projects for sale. Two residential developments are going on public sale and more than 10 projects are expected to be put on offer later this month in the run-up to Chinese New Year. Property agents expected to see enthusiastic buying support for these projects in view of the brisk activity in the secondary property market recently. The two residential projects for sale include 100 flats of Sun Hung Kai Properties' Villa Athena in Ma On Shan and 88 flats of Sino Land's Avon Park in Fanling. Both developers started registration for buyers yesterday. Property agents said initial response was good and they expected the number of registered buyers would be much higher than the number of flats on offer. The 100 Villa Athena units, measuring from 875 to 1,068 square feet, are being offered at an average price of $4,856 per square foot, representing a 3.4 per cent rise over the last offering price. The 88 Avon Park units are being offered at an average of more than $3,500 per square foot, up seven to eight per cent from the last offering. Louis Chan Wing-kit, associate director of Centaline Agencies, said the average home price in the New Territories had surged five per cent since a Sino Land-led consortium paid a record $3.94 billion for a central Kowloon site last month. Following the sale, which indicated bullish prospects for the market, many landlords held back sales or raised prices. Leung Chi-man, manager of the Sha Tin branch of Ricacorp Properties, said: ''Since the record sale last month, home prices in the Sha Tin area have increased by eight to 10 per cent.'' Henderson Land Development increased the average selling price of the remaining units at its Sunshine City in Ma On Shan and Finery Garden in Tseung Kwan O by about eight per cent.