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Peggy Sito

The removal of property curbs in the Hong Kong government’s budget announcement last week has generated a very encouraging response in the housing market.
Since the announcement, there has been a sharp rebound in the volume of home sales, with agents reporting more than 580 property transactions in the primary market between Sunday and the announcement of curb relaxations last Wednesday.
It is a matter of debate whether this demand will be sustained but one thing is certain – homebuyers have an abundance of choice.
There is a pipeline for a potential housing supply of 109,000 units, ensuring a wide range of options for prospective buyers. Here is a list of five highly anticipated residential launches in Hong Kong.

Wheelock Properties’ Seasons Place
Wheelock is set to launch a residential project in Tseung Kwan O in a joint venture with MTR Corp. Phase 12A of Lohas Park will be called Seasons Place. Phase 12 as a whole will have 1,985 units, with 650 one to three-bedroom flats in Phase 12A. The phases 12B and 12C will have 685 units and 650 units, respectively.

Wong Sun Hing Group’s Kowloon Bay project
Wong Sun Hing, a smaller developer, will release the first batch of an undisclosed number of units at its Uptown East development in Kowloon Bay in the next two weeks, it said. The project consists of two 40-floor buildings with 807 units, and a three-storey shopping centre. The units will range in size from studios to three-bedroom flats with saleable areas ranging from 235 sq ft to 3,415 sq ft.

CK Asset Holdings and MTR Corp’s Blue Coast
CK Asset and MTR Corp will soon launch their joint-venture project atop the Wong Shuk Hang Station. Blue Coast, the third phase of The Southside development, is being developed in two phases and will have 1,200 units. The first phase will provide 642 two to four-bedroom units. CK Asset’s executive director, Justin Chiu Kwok-hung, said earlier that the current cost of the property is HK$28,000 (US$3,578) per square foot. He did not disclose an estimated selling price.

Henderson Land Development’s Parkwood
Henderson Land plans to launch the project in Tai Po after the successful sale of all 138 units available in the first round of sales at its Belgravia Place development in Cheung Sha Wan on Sunday. Thomas Lam Tat-man, general manager of the sales department at Henderson, said the project on Mei Sun Lane is officially called Parkwood. It will offer 122 units ranging from studios to two-bedroom flats. The project is expected to go on sale later this month at the earliest.

Sun Hung Kai Properties’ Yoho Hub
Phase C of Yoho Hub in Yuen Long is expected to be Sun Hung Kai’s first project launch since the relaxation of Hong Kong’s property cooling curbs. The Yoho Hub project, located above the Yuen Long MTR Station, consists of six residential buildings that will provide a total of about 2,000 units ranging from one to four-bedroom flats. Phase C will have 939 units.


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Hong Kong property

With Hong Kong’s removal of property curbs unleashing a buying frenzy, here are 5 residential projects to keep an eye out for

A real estate agency in Hong Kong. Photo: Bloomberg

Wheelock’s Seasons Place project in Tseung Kwan O. Photo: Handout

An artist’s impression of Wong Sun Hing’s Uptown East. Photo: Handout

Hong Kong’s Wong Chuk Hang district. Photo: Roy Issa

An artist’s impression of the Parkwood project being developed by Henderson Land. Photo: Handout

SHKP’s Yoho Hub conplex in Yuen Long. Photo: Jonathan Wong

Mainland Chinese buyers thronging to Hong Kong property sales in search of returns after removal of curbs, industry insiders say

A property agent’s office in Hong Kong’s Fortress Hill. The number of transactions is expected to surge by 80 per cent to 5,750 deals this month, Ricacorp Properties says. Photo: Eugene Lee

Hong Kong authorities can bring back property cooling measures if necessary, says finance chief Paul Chan

A property agency in North Point displays a poster promoting the removal of property curbs. Finance chief Paul Chan says revenue from land sales was expected to increase after property curbs were scrapped. Photo: Eugene Lee

A view of residential buildings in West Kowloon. All the decade-old property cooling measures were scrapped in Paul Chan’s budget blueprint. Photo: Sam Tsang

Scrapping Hong Kong property curbs will not lead to overheated market or encourage speculation, government says

The end of restrictions designed to cool the property market are highlighted in the window of a property agency Photo: Eugene Lee

(From left) Permanent Secretary for Financial Services Cathy Chu, Financial Secretary Paul Chan and Secretary for Financial Services Christopher Hui field questions on this year’s budget statement. Photo: Jonathan Wong

Diamond Shea, the chairman of Hong Kong Owners Club, says cuts in restrictions and stamp duty not enough to convince him to buy just yet. Photo: Sun Yeung

Why home prices in Hong Kong won’t rebound despite the removal of property curbs

A property branch in Fortress Hill displays a poster stating the removal of property curbs as Financial Secretary Paul Chan delivers this year’s budget address. Photo: Eugene Lee

Hong Kong’s 2024 budget removed all cooling measures on the property market with immediate effect. This includes a Buyer’s Stamp Duty (BSD) that targets non-permanent residents and a New Residential Stamp Duty (NRSD) for second-time purchasers. 28FEB24 Photo: Jelly Tse

Hong Kong relaxes decade-old lending curbs, granting more mortgages to homebuyers and offices to bolster city’s ailing property market

Residential buildings in Mong Kok district in Kowloon Peninsula on 14 January 2024. Photo: Yik Yeung-man

Hong Kong’s Financial Secretary Paul Chan Mo-po, before he delivered his annual fiscal budget speech at the city’s legislature on 28 February 2024. Photo: Robert Ng

Eddie Yue Wai-man, the chief executive of the Hong Kong Monetary Authority (HKMA), on February 28, 2024. Photo: Enoch Yiu

Business

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Hong Kong & China

Whether demand for homes will be sustained or not is a topic of debate, but one thing is certain, homebuyers have an abundance of choice
There is a pipeline for a potential housing supply of 109,000 units


The removal of property curbs in the Hong Kong government’s budget announcement last week has generated a very encouraging response in the housing market.


Weekend Property

Hong Kong

Sun Hung Kai Properties

Hong Kong housing

Hong Kong economy

Property policies

Henderson Land

Hong Kong stamp duty

Banking & finance

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Explainer

Explainer | With Hong Kong’s removal of property curbs unleashing a buying frenzy, here are 5 residential projects to keep an eye out for

Whether demand for homes will be sustained or not is a topic of debate, but one thing is certain, homebuyers have an abundance of choice There is a pipeline for a potential housing supply of 109,000 units

Whether demand for homes will be sustained or not is a topic of debate, but one thing is certain, homebuyers have an abundance of choice

There is a pipeline for a potential housing supply of 109,000 units