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Hong Kong homebuyers flock to new launches as flats sell out swiftly
All 120 units at One Victoria Cove I sold out by late afternoon, while Pavilia Farm III sold 19 of 45 units by 6.50pm
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Hong Kong homebuyers snapped up most of the new flats released on Thursday, with developers beginning to ramp up new construction amid sustained housing demand.
All 120 units at the One Victoria Cove I in Hung Hom, jointly developed by Henderson Land Development, Hysan Development and Empire Group, were sold by 5.20pm, according to agents. Meanwhile, New World Development (NWD) and MTR Corp’s Pavilia Farm III above Tai Wai MTR station found buyers for 19 of the 45 units as of 6.50pm.
Most recent flats offerings have seen robust sales. Earlier this month, the first two batches of Pavilia Farm III, and the previous round of One Victoria Cove I sold out. This followed a full take-up of flats at La Mirabelle I in Tseung Kwan O by Sino Land, Kerry Properties, K. Wah International, China Merchants Land and MTR Corp in late March.
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NWD said in a statement on Thursday that it had generated more than HK$4.8 billion (US$610 million) from the sale of 295 units at Pavilia Farm III in a span of 11 days.
“Sales of new homes in the first four months of 2026 reached about 8,500 units, of which around 3,000 flats came from completed projects, mainly in areas such as Kai Tak, Tseung Kwan O and Sai Sha,” said Norry Lee, senior director for projects strategy and consultancy at JLL.
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The sales reduced developers’ unsold inventory to below 20,000, back to 2023 levels, Lee said.
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