Hong Kong Developers Sell Nearly 300 New Flats Amid Projected Decline in Private Housing Completions

Apr 25, 2026, 09:40

Introduction

Hong Kong property developers released about 300 new homes for sale, and all of them were sold in one day. This happened at the same time as official forecasts showed that the number of new private homes completed will decrease over the next two years.

Main Body

The sales event involved two projects: One Victoria Cove Phase I in Hung Hom, developed by Henderson Land Development, Hysan Development, and Empire Group, and Pavilia Farm III at Tai Wai station in Sha Tin, developed by New World Development and MTR Corporation. According to agents, all 218 units at One Victoria Cove and all 75 units at Pavilia Farm III were sold by the end of the day. This strong demand came at the same time as data from the Rating and Valuation Department (RVD) estimated an 8% drop in the completion of new private homes this year compared to last year. The RVD reported that 18,448 private homes were completed in 2025, a 24% decrease from the previous year. Forecasts show further declines to 16,975 units this year and 15,362 units in 2027. Derek Chan Hoi-chiu, head of research at Ricacorp Properties, described the supply reduction as the main theme for the next two years. He predicted that lower supply, relatively low interest rates, a stable financial market, and continued purchasing power would support a 15% increase in property prices this year. This analysis is separate from the official data on completions and sales. Furthermore, the Land Registry reported that Hong Kong’s residential sales reached a four-year high in 2025, with 62,832 transactions. Second-hand unit prices rose by 3.63%, according to the RVD. The combination of better sales and rising prices has officially ended a three-year downturn in the city’s residential property market.

Conclusion

The quick sell-out of nearly 300 new flats shows strong demand, while official data indicate a tightening supply. The market has come out of a long slump, but future price changes will depend on the balance between supply limits and economic conditions.

Vocabulary Learning

completions (n.)

finished units / the number of newly built homes that are completed完成單位數量

Example:The government projected a decline in private housing completions over the next two years.

downturn (n.)

decline / a period of reduced economic or business activity衰退；低迷

Example:The combination of better sales and rising prices has officially ended a three-year downturn.

forecasts (n.)

predictions / statements about what will happen in the future預測；預報

Example:Official forecasts showed that the number of new private homes completed will decrease.

slump (n.)

sharp fall / a sudden or prolonged drop in value or activity暴跌；衰退

Example:The market has come out of a long slump.

transactions (n.)

deals / the act of buying or selling something交易；買賣

Example:The Land Registry reported that Hong Kong’s residential sales reached a four-year high in 2025, with 62,832 transactions.

Sentence Learning

Passive Voice (reduced relative clause) - 'developed by' is a past participle phrase acting as a reduced relative clause (which were developed by...). It provides additional information about the projects in a concise way.被動語態（縮減關係從句） - 「developed by」是過去分詞短語，充當縮減的關係從句（即原本是「which were developed by」）。它以簡潔的方式提供關於項目的額外信息。

According to agents, all 218 units at One Victoria Cove and all 75 units at Pavilia Farm III were sold by the end of the day.

Passive Voice - 'were sold' is the passive voice, focusing on the action (the units being sold) rather than who sold them. It is common in formal reporting.被動語態 - 「were sold」是被動語態，強調動作（單位被售出）而非誰售出。這在正式報導中常見。

The RVD reported that 18,448 private homes were completed in 2025, a 24% decrease from the previous year.

Passive Voice + Reported Speech - 'were completed' is passive voice, and 'reported that' introduces a reported clause. The passive is used to report facts without specifying the agent.被動語態 + 轉述句 - 「were completed」是被動語態，而「reported that」引入轉述從句。被動語態用於報告事實而不指明行為者。

The quick sell-out of nearly 300 new flats shows strong demand, while official data indicate a tightening supply.

Contrast Linking Word: 'while' - 'while' shows a contrast between the strong demand (sell-out) and the official data indicating tightening supply. It connects two contrasting ideas in one sentence.對比連接詞：「while」 - 「while」顯示了強勁需求（售罄）與官方數據顯示供應收緊之間的對比。它在一個句子中連接兩個對比的想法。

The market has come out of a long slump, but future price changes will depend on the balance between supply limits and economic conditions.

Contrast Linking Word: 'but' - 'but' introduces a contrasting idea: the market has recovered, but future changes depend on other factors. It helps structure the argument.對比連接詞：「but」 - 「but」引入一個對比的想法：市場已經復甦，但未來變化取決於其他因素。它有助於構建論點。