Residential property market has warmed up recently, and some large developers have taken the opportunity to launch demolition sales of long-term rental single-building projects on Hong Kong Island. The Wan Chai single-building Queen's Cube, which is mainly open-plan and one-bedroom units, is owned by Nan Fung or related parties, and has recently launched a demolition sale. According to real estate agency sources, the price per square foot of the project starts at approximately 17,500 HKD, with an entry fee of about 5 million HKD. However, the project was originally a residential development jointly developed by Nan Fung and the Hong Kong Housing Authority, launched for sale as early as 2010. At its first launch, the price per square foot reached as high as 27,600 HKD, indicating that the latest demolition sale entry price of 17,500 HKD per square foot has dropped by more than 35% from its peak. According to real estate agency sources, Nan Fung has recently opened the on-site demonstration units of the Wan Chai single-building Queen's Cube for agents and potential buyers to visit. Some mid-floor C-room open-plan units have a practical area of about 289 square feet, selling for about 5 million HKD, at a price of about 17,500 HKD per square foot; while the high-floor A-room one-bedroom unit has a practical area of about 399 square feet, selling for about 9 million HKD, at a price of about 22,500 HKD per square foot. According to market price list data, the mid-low floor full-floor one-lift-four-unit, the cheapest is the mid-floor B-room open-plan unit, with a practical area of 276 square feet, selling for 4.975 million HKD, the cheapest entry unit. The cheapest one-bedroom unit for entry is the mid-low floor A-room, with a practical area of about 399 square feet, selling for about 6.541 million HKD. The transaction period is set to 60 days.