New Hong Kong Property Developments to Look Forward to in 2018

Jan 5 2018

5 January 2018 - According to JLL’s December 2017 Property Market Monitor, home sales have risen by 7.7 per cent in November month-over-month. Residential capital values also increased by 1.2 per cent in November, boosted by a 14.1 per cent month-over-month uplift in second-hand property sales. The price surge occurred despite the rate hike cycle, which may take place in the coming years.

New Developments

New developments released in 2017 were generally well-received: for example, Wings at Sea and Cullinan West II by Sun Hung Kai Properties, and 80 Maidstone Road by Fame Top Investment Limited sold for prices ranging from HK$12,788 to $20,368 per square foot. According to the Land Registry, primary home sales recorded 17,364 transactions in the first 11 months this year, compared with 16,796 transactions during the same period in 2016.

The Rating and Valuation Department forecast new residential unit completions to reach 19,530 units in 2018. In response to the strong housing demand, property developers are expected to release more new projects. We round up the new property developments to keep on your radar in 2018:

New Developments	Property Developer	Address	Area	Completion / Estimated Material Date	Further Information
St Barths	Sun Hung Kai Properties	9 Yiu Sha Road, Ma On Shan	New Territories	October 2018	http://www.stbarths.com.hk/
St Moritz	Sun Hung Kai Properties	88 Lai Ping Road, Sha Tin	New Territories	June 2017	http://www.stmoritz.com.hk/
The Astro	Astro Far East Estate	310 Un Chau Street, Cheung Sha Wan	Kowloon	July 2019	http://www.theastro.com.hk/
Yoo, 18 Bonham	Queen Cheers Development & Winston Development	18 Bonham Road, Mid-level West	Hong Kong Island	November 2017	http://www.yoo18bonham.com/
Le Cap	Wing Tai Properties & Manhattan Group	83 Lai Ping Road, Sha Tin	New Territories	March 2018	http://www.lecapandlavetta.com.hk/
Cristallo	Grand Ming Group	27 Prince Edward Road West, Ho Man Tin	Kowloon	February 2018	http://www.cristallo.com.hk/
23 Lai Ping Road Project	Paliburg Holdings & Regal Hotels International	23 Lai Ping Road, Sha Tin	New Territories	June 2019	N/A
La Vetta	Wing Tai Properties & Manhattan Garments	68 Lai Ping Road, Sha Tin	New Territories	April 2018	http://www.lavetta.com.hk/
L'AQUATIQUE	MCC Real Estate	No. 108 Castle Peak Road, Tsing Lung Tau	New Territories	December 2018	N/A
Lohas Park – Phase V	Wheelock & MTR Corp	1 Lohas Park Road, Tseung Kwan O	New Territories	March 2020	N/A
Lohas Park – Phase VI	Nan Fung Group	1 Lohas Park Road, Tseung Kwan O	New Territories	Q4 2020	N/A
Kwun Tong Town Centre Project	Sino Land, Chinese Estates Holdings	Hong Ning Road, Mut Wah Street, Concord Street	Kowloon	2019 - 2021	N/A
Chong San Road Project	K Wah Group	Chong San Road, Tai Po	New Territories	February 2020	N/A
Kowloon Road Project	Sino Land	No. 1-3B Kowloon Road, Sham Shui Po	Kowloon	Q3/Q4 2018	N/A

As you can see from the table above, a many of the new developments are located in Kowloon and the New Territories, including districts such as Tseung Kwan O, Sha Tin and Tuen Mun. Meanwhile on Hong Kong Island, only one project located in the Mid-levels West is expected to be released in 2018, given the fact that the majority of new estates on the Island were rolled out in 2017. This may drive the accumulated purchasing power back to the second-hand property market.

Want to learn more? Stay tuned to OKAY.com for more insights on property market trends in 2018.