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.
