Hong Kong Island’s New Development in 2017
  Mar 29 2017
 
29 March 2017 - According to JLL’s Property Market Monitor in March, home sales have increased by 24.1% in February month-over-month. In addition to this, residential capital values i.e. home prices in Hong Kong also rose by 1.0% in February, overtaking September 2015 as the highest on record.1 The price surge occurred despite cooling measures instituted by the Hong Kong Government which took place in the form of the tighter mortgage loan-to-value-ratios and the introduction of Ad Valorem Stamp Duty
 
New Developments 
 
With an expected 5,000 new flats ready for launch in the first quarter of 2017,2 property developers have readily released new projects both in direct response to positive market sentiment and to address the pent up demand within the primary market. Referencing recent examples, Sun Hung Kai Properties, Cheung Kong Property and Wheelock Properties have all released units for their respective developments (Cullinan West, Seanorama and Monterey) on to the market during the week of 13th March. These are valued at an average price range of HK$14,368 to HK$18,951 per square foot and are located on Kowloon side. Looking to Hong Kong Island in particular, OKAY.com lists the most highly anticipated new developments that are up for release below:
 
 

New Development

Property Developer

Address

Completion / Estimated Material Date

Further Information

Victoria Harbour

Sun Hung Kai Properties

133 Java Road, North Point

June 2017

http://www.victoriaharbour.com.hk

Mount Nicholson

Wheelock Properties

8 Mount Nicholson Road, The Peak

Tender Period for Phase II 17th March 2017

http://www.mountnicholson.com.hk/en_US/intro/

Lime Gala

Sun Hung Kai Properties

393 Shau Kei Wan Road, Shau Kei Wan

15th August 2018

http://www.limegala.hk/en/

Bohemian House

New World Development 

321 Des Voeux Road West, Sai Ying Pun & Sheung Wan

March 2017

http://www.bohemianhouse.com.hk/

Alassio

Swire Properties

100 Caine Road, Mid-Levels - West

31st May 2017

http://www.alassio.com.hk/

Island Garden

Nan Fung Group

33 Chai Wan Road, Shau Kei Wan

31st January 2019

http://www.islandgarden.com.hk

The Morgan

Phoenix Property Investors

31 Conduit Road, Mid-Levels West

On the market since November 2016

http://www.themorgan.hk/

Wellesley

Henderson Land Development

23 Robinson Road, Mid-levels West

7th October 2018

http://www.wellesley.com.hk/

Marina South

China Overseas

8 Ap Lei Chau Drive, Aberdeen & Ap Lei Chau

On the market since December 2016 (latest tender period 15th March)

http://www.marina-south.hk/

Parker 33

Henderson Land Development

33 Shing On Road, Sai Wan Ho

31st March 2017

http://www.parker33.com.hk

One Prestige

Henderson Land Development

1 Yuet Yuen Street, North Point

2018

http://www.oneprestige.com.hk

Harbour Glory

Cheung Kong Property

32 City Garden Road, North Point

31st March 2019

http://www.harbourglory.com.hk/mobile/index.html

Jones Hive

Henderson Land Development

No.8 Jones Street, Causeway Bay

31st July 2017

http://www.joneshive.com.hk

 

Based on the information above, a high number of anticipated new developments on Hong Kong Island are located in North Point and Mid-Levels. Shau Kei Wan as a district is also host to several new projects, as is Sai Wan Ho. In terms of tender periods, the roll out of new units usually takes place in stages, with each phase of the respective new developments being released incrementally for sale to the public. Consult each property’s official page for information regarding current sales arrangements.    

 

1 http://www.jll.com.hk/hong-kong/en-gb/Research/Research-monitor-hk-2017-03.pdf?3a4e8245-ed1f-4b88-bfc5-2625a2be400d

2 http://www.scmp.com/property/hong-kong-china/article/2058911/hong-kong-property-set-become-buyers-market-first-quarter

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