New Property Development

129 - 249 Sqft
Studio - 1 bed(s)
160
Full Well Engineering
HK$2.92M
- 5.31M
1 - 4 bed(s)
893
Nan Fung Group
800 - 2100 Sqft
2 - 4 bed(s)
175
Sino Land, CLP Group
2023 - 2171 Sqft
4 bed(s)
21
HKR International Limited
450 - 1476 Sqft
2 - 4 bed(s)
503
Wheelock Properties, MTR
HK$8.40M
- 24.06M
181 - 468 Sqft
Studio - 2 bed(s)
90
Henderson Land Development
HK$6.44M
- 19.17M
213 - 1127 Sqft
Studio - 3 bed(s)
104
Vanke Property, Cheung Hung
HK$7.07M
- 12.43M
290 - 820 Sqft
1 - 4 bed(s)
1,727
Sun Hung Kai Properties
HK$4.69M
- 21.24M
348 - 1305 Sqft
1 - 3 bed(s)
647
Wheelock Properties, MTR
HK$6.62M
- 17.30M
203 - 758 Sqft
Studio - 3 bed(s)
414
China Evergrande
HK$6.22M
- 12.07M
287 - 1888 Sqft
Studio - 3 bed(s)
1,006
K. Wah International
HK$7.66M
- 24.51M
300 - 1012 Sqft
Studio - 3 bed(s)
331
Road King Properties
HK$11.06M
- 14.63M
344 - 1844 Sqft
Studio - 4 bed(s)
196
HKR International
HK$5.33M
- 20.12M
278 - 2728 Sqft
1 - 4 bed(s)
776
Grand Ming Group
HK$5.47M
- 13.24M
201 - 475 Sqft
Studio - 2 bed(s)
1,960
China Evergrande
HK$3.98M
- 8.93M
474 - 786 Sqft
2 - 3 bed(s)
876
Cheung Kong, Urban Renewal Authority
HK$9.04M
- 20.53M
332 - 2566 Sqft
1 - 3 bed(s)
667
Longfor Group, KWG Group
HK$12.83M
- 25.57M
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About New Property Developments

Many Hong Kong people see homeownership as a life-long goal and consider property investment to be a very lucrative business. Among all types of housing, new development projects are some of the most highly sought after. It is a common sight on weekends to see thousands of first-time homebuyers and sophisticated investors flocking to project launches, waiting in line for a chance to buy a unit despite the deterring high prices in the local market.

To buy a new property, one typically has to use a realtor to handle the transaction and, more importantly, to enjoy the rebate realty agencies offer. Every month, the Lands Department releases a list of new development projects which are consented for sales on its website. This list is usually how the general public gets wind of a new property launch.

Once the project is consented, the developer will upload a sales brochure on the new development’s official website in weeks (no later than 7 days before the sale date). The brochure contains detailed information on the properties, such as floor plans, a summary of the deed of mutual covenant, fittings, finishes and appliances.

No later than 3 days before the sale date, the developer will also release the sales arrangements which state the time, date, and venue of the sale and descriptions of the specified residential properties that will be offered to be sold.

The balloting, flat selection, and signing of Preliminary Agreement for Sale and Purchase will usually take place on the same day during the sale period. Successful buyers can then apply for home mortgages with the preliminary agreement and choose to begin mortgage payment before or after the completion date.

It is essential to conduct a home inspection before moving into a new development. In cases of defects, developers will bear the responsibility and cost of remediation.

New Developments in Hong Kong