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27.3 Thousand Units of First Hand Property Will Be Supplied In 2019

Image Caption
More than five thousand units will located in focal district Tuen Mun ; Above 70% among will be developed by Henderson Land and Evergrande .

Hong Kong Wen Wei Po (By Liang Yueqin)

The property market in 2019 will be still affected by Sino-US trade wars, interest rate hikes, worry of economic slowdown, and vacant taxes. According to the market data, there will be as many as 27,349 units of first hand property supplied in 2019, which is similar to the average of previous years. Tuen Mun has the most supply in 2019 among all districts, accounting for about 5,127 units; Second is Tai Po district, supplying about 4,279 units; Ho Man Tin, Kowloon Tong and Ma Tau Kok totally supply about 3,483 units, ranking the third.

According to the market data, Tuen Mun will supply 8 new projects including about 5,127 units in 2019, which will be the largest supply area of first hand property. Among them, Henderson Land’s So Kwun Wat project is the largest including 1,800 units; Evergrande’s two projects that are Kwun Chui Road #8 phase 1 and Phase 2 supply totally 1,982 units; Sun Hung Kai also has three new projects which are Mount Regency phase 2, Hoi Wing Road and Hang Fu St junction phase 1 and phase 2, supplying 1,164 units in total.

4 new projects in Tai Po District will supply 4,279 units.

There will be 4 new projects for sale in Tai Po District, supplying about 4,279 units. 3 new projects in Pak Shek Kok of Tai Po will be launched, leading there will be a focus in 2019. Among them, The Horizon II developed by Billion Development is the largest, with a total of 1,408 units; ONTOLO developed by Great Eagle etc. has 723 units, including layouts from one to four rooms; MAYFAIR by the sea 8 developed by Sino provides 528 units, leading in two rooms and three rooms layout.

In addition, China Overseas’ The Paragon in Kulen Mountain of Tai Po provides 1,620 units.

One more focal area is Ho Man Tin, Kowloon Tong and Ma Tau Kok, where will build 11 new projects providing about 3,483 units. Among them, Shimao Property's Yin Ping Road project in Tai Wo Ping has the largest scale, with a total of 980 units; Goldin Financial’s Sheung Shing Street project has a total of 950 units; Henderson Land’s Ma Tau Wai Road No.57-69 project has 550 units; New World's Kowloon City Rd No. 68 project and Waterloo Road Project provide 294units and 240 units respectively. Sun Hung Kai’s Downtown 38 in Pak Tai Street provides 228 units; Kerry’s luxury project in Lung Cheung Road provides 45 units.

LOHAS Park’s three new projects will supply up to 2,520 units.

In 2019, there will be three new projects from LOHAS Park in Tseung Kwan O for sales, providing a total of 2,520 units. Among them, Cheung Kong’s LOHAS Park Phase 8 has the largest scale, with a total of 1,400 units; Wheelock Properties’ LOHAS Park 7A and 7B, respectively, will provide 616 units and 504 units.

Project launching is predicted to be active under effect from Vacant tax.

Hong Kong residential property prices adjustment is not yet completed, which may cause a pattern of “First hand stable while second hand down” in 2019, with the property price fluctuation of the whole year in about 5%-8%, and it will be more fierce in the first half year, there into, luxury property will be the most stable, the Chief Executive Officer of Hong Kong Property, Li Zhicheng, predicted. Under the vacant tax effect, it is believed that developers will still actively launch projects, and the leading line in the first half year of 2019 will be the first hand property transaction in the market. Hong Kong Property expected the first hand private house transaction register volume in the whole 2019 will be about 16 thousand cases, up about 1.3% by year, and the registered amount will reach HKD 220 billion, up about 0.9% by year.
Translated by 28Hse.com . All right reserved.