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 approximately 300 new residential units to the market, all of which were sold within a single day. This occurred concurrently with official projections indicating a reduction in the completion of private housing units over the next two years.

Main Body

The sales event involved two projects: One Victoria Cove Phase I in Hung Hom, jointly developed by Henderson Land Development, Hysan Development, and Empire Group, and Pavilia Farm III atop 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. The strong uptake coincided with data from the Rating and Valuation Department (RVD) estimating an 8% decline in the completion of new private residential units this year compared to the previous year. The RVD reported that 18,448 private homes were completed in 2025, a 24% decrease from the prior year. Forecasts indicate further declines to 16,975 units in the current year and 15,362 units in 2027. Derek Chan Hoi-chiu, head of research at Ricacorp Properties, characterized the supply contraction as the dominant theme for the coming two years. He projected that the combination of declining supply, relatively low interest rates, a stable financial market, and sustained purchasing power would support a 15% increase in property prices for the year. This analysis is distinct from the verified data on completions and sales. Additional data from the Land Registry showed 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 confluence of improved sales and rising prices has officially ended a three-year downturn in the city’s residential property market.

Conclusion

The immediate sell-out of nearly 300 new flats reflects robust demand, while official data point to a tightening supply pipeline. The market has exited a prolonged slump, though future price movements remain contingent on the interplay of supply constraints and macroeconomic conditions.

Vocabulary Learning

concurrently (adv.)
simultaneously / at the same time同時地；並行地
Example:This occurred concurrently with official projections.
confluence (n.)
convergence / a coming together of people or things匯合；匯聚
Example:The confluence of improved sales and rising prices has officially ended a three-year downturn.
contingent (adj.)
conditional / dependent on circumstances取決於；視乎...而定
Example:Future price movements remain contingent on the interplay of supply constraints and macroeconomic conditions.
contraction (n.)
reduction / the process of becoming smaller收縮；縮減
Example:He characterized the supply contraction as the dominant theme for the coming two years.
prolonged (adj.)
extended / continuing for a long time長期的；持續很久的
Example:The market has exited a prolonged slump.

Sentence Learning

Hong Kong property developers released approximately 300 new residential units to the market, all of which were sold within a single day.
Relative Clause with Quantifier: This sentence uses a non-restrictive relative clause introduced by 'all of which' to provide additional information about the units. The relative clause is postmodifying the noun phrase '300 new residential units' and uses the passive voice 'were sold'. This structure adds detail without defining the noun.此句使用非限制性關係從句，由'all of which'引導，對'300個新住宅單位'進行補充說明。關係從句後置修飾名詞短語，並使用被動語態'were sold'。這種結構在不定義名詞的情況下增加細節。
This occurred concurrently with official projections indicating a reduction in the completion of private housing units over the next two years.
Participial Phrase as Postmodifier: The participial phrase 'indicating a reduction in the completion...' acts as a postmodifier to the noun 'projections', replacing a full relative clause (e.g., 'which indicate...'). This reduces clause length and adds conciseness. The phrase also contains nominalization ('completion') and a prepositional phrase.分詞短語'indicating a reduction in the completion...'作為後置修飾語修飾名詞'projections'，取代完整的關係從句（如'which indicate...'）。此結構縮短從句長度，增加簡潔性。短語中還包含名詞化（'completion'）和介詞短語。
The sales event involved two projects: One Victoria Cove Phase I in Hung Hom, jointly developed by Henderson Land Development, Hysan Development, and Empire Group, and Pavilia Farm III atop Tai Wai station in Sha Tin, developed by New World Development and MTR Corporation.
Reduced Relative Clauses (Participial Phrases) and Apposition: This sentence employs reduced relative clauses (past participial phrases 'jointly developed' and 'developed') to describe the projects without using full relative clauses. Additionally, it uses apposition to list the two projects with their developers, creating a dense informational structure. The colon introduces the list.此句使用縮減關係從句（過去分詞短語'jointly developed'和'developed'）來描述項目，無需使用完整關係從句。此外，使用同位語列出兩個項目及其開發商，形成密集的信息結構。冒號引出列表。
The strong uptake coincided with data from the Rating and Valuation Department (RVD) estimating an 8% decline in the completion of new private residential units this year compared to the previous year.
Participial Phrase with Nominalization and Reduced Comparative Clause: The present participial phrase 'estimating an 8% decline' modifies 'data', and within it, the noun phrase 'decline in the completion' uses nominalization. The phrase 'compared to the previous year' is a reduced comparative clause (full: 'when compared to the previous year' or 'compared with the previous year'), adding a comparison.現在分詞短語'estimating an 8% decline'修飾'data'，其中名詞短語'decline in the completion'使用了名詞化。短語'compared to the previous year'是縮減比較從句（完整形式：'when compared to the previous year'或'compared with the previous year'），增加比較。
The confluence of improved sales and rising prices has officially ended a three-year downturn in the city’s residential property market.
Nominalization and Complex Noun Phrase: This sentence features a complex noun phrase as the subject: 'The confluence of improved sales and rising prices'. 'Confluence' is a nominalization of the verb 'conflow', and the premodifiers 'improved' and 'rising' are participial adjectives. This dense noun phrase encapsulates multiple concepts, typical of formal writing.此句主語為複雜名詞短語：'The confluence of improved sales and rising prices'。'Confluence'是動詞'conflow'的名詞化，前修飾語'improved'和'rising'是分詞形容詞。這個密集的名詞短語濃縮了多個概念，是正式寫作的典型特徵。