Developers cashing in on market momentum

June Chen

More new flats will be put on sale with the upbeat momentum in Hong Kong's property market extending into its second week after the new year.

The Reserve, the second phase of Early Light International Estate's Gold Coast Bay in Tuen Mun, released its third price list today.

It includes 65 flats with an average price of HK$10,538 after discounts per square foot, 4.5 percent or HK$450 higher than the average price in the second list.

The new batch includes 39 one-bedroom, 19 two-bedroom units and 7 three-bedroom flats with prices starting from HK$2.84 million or HK$9,096 per sq ft after discounts,.

The third round of sales for all 281 flats on the three lists will kick off this Saturday.

In Yuen Long, The Parkland, developed by Lai Sun Development (0488), will put 14 units on sale this Friday.

Four special units among them will be sold by tender.

Beacon Peak, Shimao's (0813) luxury residential project near Kowloon Tong, will put 13 flats on sale this Saturday by tender, with sizes ranging from 1,276 to 1,711 sq ft.

The tender's closing deadline is set for March 19.

Meanwhile, China Resources Land (1109) has applied to the Town Planning Board to redevelop Wah Tung Godown in Yau Tong, which it acquired in 2023, into a residential project that would offer around 342 flats, with a target completion by 2032.

Additionally, New World Development (0017) recently named the shopping mall at the pedestal of its upscale residential project State Pavilia in North Point.

The new mall, State Theatre by K11, is projected to open in 2027.

In other property news, home transactions across the Greater Bay Area have rebounded since October, and the number of new home deals in 2025 is expected to rise by 20 percent to about 380,000, according to a Cushman & Wakefield survey.

Since the central government launched a basket of stimulus to shore up the property market, the transaction volume has rebounded markedly since October, with overall firsthand transactions in the GBA rising by more than 70 percent month-on-month to 40,000 units in October, the real estate services firm said.