However, the forces driving the residential market in Hong Kong can no doubt sense the potential of future land supply. And the enthusiastic buyer response to recent project launches seems sure to turn quite a few heads in this direction.

“The supply of high-end residences in Hong Kong is very limited due to the severe shortage of land,” says Sammy Po, chief executive of the residential division at Midland Realty. “But against the backdrop of unlimited quantitative easing, along with low interest rates, there is still an abundance of capital ready to flow into the local property market. The high-end segment will continue to benefit from this and, therefore, is expected to see a ‘horizontal’ or even upwards trend.” Po adds that, once the traumas and disruptions caused by Covid-19 are behind us, interest from mainland-based buyers should quickly resume.

In general, these well-heeled individuals are known to be particularly fond of large properties, if possible offering a sea view. And the prospect of more skilled professionals being seconded to Hong Kong by mainland firms is likely to support ongoing demand for homes in the higher price bracket, if not at the top end of the scale.

“Overall, we also notice that buyers are looking for better technologies and environmental practices,” Po says. “Some developers are choosing to offer units with higher ceilings to maximise natural light and reduce energy consumption, as well as incorporating more electronic features like smart door locks.”

The Grand Marine on Tsing Yi Island is one new project specifically designed to reflect such trends. Overseen by Grand Ming Group, it is the first major private residential development in the area for around 15 years and includes a number of iconic features. These make it both a landmark in the neighbourhood and, quite possibly, an example to follow if and when other suitable sites become available.

In total, the two-tower project, for which the current expected completion date is January 2022, has 776 apartments ranging in size from one- to four-bedroom units. The saleable floor area of the largest is given as approximately 2,728 square feet, and a number of firsts – for the district, at least – are being claimed on behalf of the architects and design team.

These include a curtain-wall facade, the use of intelligent technology and a landscaped garden conceived by internationally renowned consultants Adrian L. Norman. In addition, each unit has dual sliding doors for easy access to a balcony and to allow in plenty of natural light.

Installation of the latest in built-in “SmartAtHome” technology will give residents the option of sensor lighting and remote control of numerous appliances, which will contribute to a relaxed style of “one-touch living”.

Within the complex, the extensive Grand Club will serve as a venue for games, exercise, swimming, social events, music and children’s entertainment. And for members of the younger generation looking for new kinds of virtual experience, there is a fully equipped VR studio.

Not surprisingly, in view of these attractions, the initial sales phase saw strong buyer interest, and more than 85 per cent of all units have already been sold. In the coming months, though, the developer plans to focus on promoting the six duplex penthouse units, which have been held back till now.

These come with a private lift lobby to guarantee quiet and a sense of exclusivity. Each penthouse also has access to an extensive flat roof, commanding great views of the greenery of nearby hillsides and over Rambler Channel towards Victoria Harbour and the skyline of Hong Kong Island. And the building’s handy location ensures residents will have fast, near-seamless transport connections whether heading to the airport, into Central, or to any of the other business and entertainment hubs around town.

Looking ahead, such features underpin a sense of confidence about near-term sales and, beyond that, the prospects for other projects made viable by the twin imperatives of regeneration and better housing.

“With low interest rates helping to maintain attractive mortgage rates, the broader property market should remain stable in 2021 and the desire to buy homes should stay steady,” says Kitty Ngan King-fung, director of sales and marketing, Grand Ming Group.

“Therefore, we will be active in growing our land bank, aiming to expand with new development projects in both the mass and luxury property markets.”

Of course, it remains to be seen whether these ventures turn out to be in Kwai Tsing or elsewhere. However, anyone trying to predict which urban areas are most likely to take off over the coming decade can study the usual pattern.

In essence, it involves recognising that connectivity, rather than “getting away from it all”, is the priority for most people in Hong Kong. So, any district with MTR and road links has immediate appeal.

In this respect, Tsing Yi station has not just direct, frequent services to the airport and the city centre, but also easy links to cross-border lines for destinations in Guangdong province and across the mainland.

Just as convenient, the architecturally impressive Hong Kong-Zhuhai-Macau Bridge has potentially simplified trips by road to and from the western side of the Pearl River Delta – cutting transit times dramatically.

Other than that, any reading of how the Kwai Tsing residential market is likely to evolve comes down to an interpretation of government policy and basic economics. Both those indicators signal further change is on the way as newer industries progressively displace the old.

In particular, the shipping, freight terminal and logistics firms, which until quite recently made Hong Kong the world’s busiest container port, can see they will be under pressure to surrender backup land as it becomes less essential for gradually scaled-down operations.

And, continuing a process which is already under way, the next-generation innovators, entrepreneurs, developers and upwardly mobile residents will be looking to move in and take their space.