The local housing market is likely to take on a cautious sentiment in 2016, due to the interest rate hike by the US Federal Reserve, along with a global economic slowdown. Perhaps as a result, developers are accelerating their project launches before local banks raise rates accordingly.
As expected, new supply will be focused in the New Territories this year, with Yuen Long and Sai Kung offering major affordable and luxury homes respectively. Here’s is a summary of what new projects would be on offer in the New Territories in the first quarter of 2016.
Sai Kung — Mount Pavilia
Located on Clear Water Bay Road in Sai Kung near HKUST, this low-density project by New World Development offers 680 residential units spanning an area of 720,000 square feet. Units are sized from 950 to 1,800 square feet, with three- to four-bedroom layouts making up the bulk. A range of special flats is available.
Sai Kung — The Mediterranean
Sino Land’s The Mediterranean sits on Tai Mong Tsai Road in Sai Kung. The residential project comprises 297 units in four blocks, 245 of which are standard and 52 are special. It is only 10 minutes walk from Sai Kung Town Centre. Some units on high level floors take in sea views.
Sai Kung — 20&22 Pik Sha Road
Chinachem Group extends its portfolio in Sai Kung with two 3-storey mansions sized at 3,360 and 3,666 square feet on Pik Sha Road, Clear Water Bay Peninsula North.
Sai Kung — Serenity Peak
Perched on 1 Serenity Path in Clear Water Bay, Chinachem Group’s Serenity Peak comprises four houses of either 2,343 or 2,561 square feet in size. Each flat enjoys its own garage and swimming pool.
Yuen Long — La Mansion
Cheung Kong Property Holdings adds a new project to its portfolio: La Mansion at Ping Shan in Yuen Long. The project comprises 41 villas that range from 1,590 to 1,800 square feet.
Yuen Long — Grand YOHO Phase One
Developed by Sun Hung Kai Properties, Grand YOHO Phase One is composed of 1,114 units and conveniently located, with a sizable shopping centre in YOHO MALL and Yuen Long West Rail Station right on the doorstep.
Yuen Long — Park Vista 1B & 1C
Following the successful sales of Park Vista 1A during the New Year holiday, Sun Hung Kai Properties will soon release Phases 1B and 1C to the market. 1B and 1C projects offer 499 and 166 units respectively, ranging from studio to three-bedroom layouts.
Tseung Kwan O — O’ SOUTH 65C1 Zone
Wheelock Properties will soon roll out 800 residential units at 65C1 Zone in Tseung Kwan O as part three of the area’s O’ SOUTH project. The development targets the mass market, with an additional five villas to choose from.
Tuen Mun — The Bloomsway
Perched on So Kwun Wat in Tuen Mun, right next to Harrow International School Hong Kong, The Bloomsway from Kerry Properties features studio and one- to four-bedroom flats, as well as units with rooftops and gardens for a total of 1,100 homes.