appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Peggy Ye

Strong student-rental demand, competitive pricing and improving transport links are drawing investors to new residential projects in To Kwa Wan, as developers seek to reposition the ageing Kowloon district as part of a broader redevelopment corridor linked to Kai Tak and Hung Hom.
The renewed interest helped push Hong Kong’s weekend primary home transactions to around 500 units, the strongest level in 19 months, according to Midland Realty.
Two of the four major project launches over the weekend were in To Kwa Wan, an older Kowloon district traditionally known for ageing tenement buildings and fragmented redevelopment.
On Sunday, all 130 units released in the first round of sales for the third phase of One Victoria Cove on 1 Bailey Street were sold, according to lead developer Henderson Land Development. Prices started at HK$6.98 million, or HK$20,383 per square foot.
The batch included 101 two-bedroom units and 29 three-bedroom flats ranging from 338 sq ft to 708 sq ft. One Hong Kong investor spent more than HK$110 million to purchase 16 units, the developer said.

Investment demand was a major driver behind the strong sales. Midland Realty said investors accounted for about 40 per cent of its buyers at One Victoria Cove, with some purchasing multiple units for leasing purposes.
On Saturday, Highwood Phase II on 70 To Kwa Wan Road, also developed by Henderson Land Development, sold all 150 units released in its first round of sales.
One Victoria Cove was launched at prices broadly in line with nearby second-hand homes and about 5 to 8 per cent below comparable unsold primary units in the area, while Highwood’s first batch was priced about 15 per cent below comparable unsold stock nearby, said Louis Chan Wing-kit, vice-chairman of Asia-Pacific residential at Centaline Property.
“The rental market is one of the key reasons investors are entering the district,” said Will Chu, investment director at Nexara Capital. “Home prices have stabilised recently and interest rates have been cut several times, so investors are seeing rental yields improve, while student rental demand continues to support leasing.”
Student housing demand has become an increasingly important investment theme because of the district’s proximity to universities, including Polytechnic University in Hung Hom, and City University and Baptist University in Kowloon Tong.
Newer estates in the district were generating rents of about HK$50 to HK$65 per square foot, implying rental yields of around 4 per cent, according to property agencies.
Part of the demand also came from existing residents displaced by redevelopment projects who were looking to move back into the district, agents said.
Developers have increasingly marketed projects in the area as part of a broader Hung Hom revival, seeking to change long-standing perceptions of To Kwa Wan as an old district with weaker infrastructure and transport links.
The shift has been supported by the opening of the Tuen Ma Line and a series of Urban Renewal Authority-led projects aimed at improving connectivity within the district.
The Urban Renewal Authority has grouped eight redevelopment projects in To Kwa Wan under what it calls a “district-based redevelopment new community” model involving developers including Kerry Properties, CK Asset Holdings, Sino Land and China Merchants Land.
The plan includes widening pavements, adding pedestrian corridors and footbridges, and improving links between inland To Kwa Wan, the harbourfront and nearby Kai Tak. Most projects are expected to be completed within the next two to three years.
Some analysts said the district could also benefit from spillover demand from neighbouring Kai Tak, the large-scale redevelopment district built on Hong Kong’s former airport site.
“It is one possible upside,” Chu said. “But that trend has not fully emerged yet because sales absorption in Kai Tak itself remains relatively normal.”
Raymond Cheng, an independent property analyst, said he did not expect To Kwa Wan to evolve into another Kai Tak. “Kai Tak was developed as a completely new district, while To Kwa Wan is an older urban area undergoing gradual redevelopment,” he added.
Midland expected primary home transactions this month to reach 2,500 units, which would mark an 18-month high.


Amazon and Shorea Capital deals underscore foreign interest in commercial property

Despite higher costs, Hong Kong’s student residences attract mainland Chinese renters

Why a hawkish US Fed won’t derail Hong Kong’s property recovery

Once the world’s most-visited city, Hong Kong now converts hotels into student dorms

Hong Kong property

Rental yields, redevelopment gains drive home sales in Hong Kong’s To Kwa Wan

Developers are repositioning To Kwa Wan as part of a broader redevelopment corridor linked to Kai Tak and Hung Hom. Photo: Handout

A rendering of One Victoria Cove on Bailey Street, To Kwa Wan. Photo: Handout

Developers are repositioning To Kwa Wan as part of a broader redevelopment corridor linked to Kai Tak and Hung Hom. Photo: Shutterstock

Hong Kong home market maintains upwards momentum as eager buyers snap up new flats

The long queue of buyers at International Commerce Centre in Kowloon on Saturday for flats at Sun Hung Kai Properties’ Lime Spark project in Tsuen Wan. Photo: Eugene Lee

Buyers queue to buy flats at the Lime Spark project on Saturday. Photo: Eugene Lee

Hong Kong’s secondary luxury home deals pick up as business families hunt for value

Private residential developments Mayfair by the Sea Phase 1 and 2 in Tai Po. Photo: Martin Chan

Price gains in the luxury segment have so far lagged behind the broader market, according to property agencies. Photo: Handout

Hong Kong home sales surge to 2-year high, boosting overall transactions

An aerial view of housing in Tseung Kwan O, February 12, 2026. Photo: Sam Tsang

Prospective buyers queue at the Lai Chi Kok sales office of Pavilia Farm III, April 18, 2026. Photo: Jelly Tse

What does an improved Hong Kong property outlook mean for land sales?

Hong Kong’s property market has seen a gradual recovery in recent months. Photo: Jelly Tse

Kerry Properties bid HK$1.38 billion for a 14,523 sq ft lot in Shau Kei Wan – 16.8 per cent above the highest estimate. Photo: Edmond So

Pair of Hong Kong luxury homes sells for US$41m as market sizzle increases

The luxury residential development at 8-12 Peak Road, pictured in 2021. Photo: Jonathan Wong

Business

Property

Markets

Banking & Finance

Demand for 2 projects fuels busiest sales weekend in 19 months as developers market the district as part of a wider redevelopment corridor


Demand for 2 projects fuels busiest sales weekend in 19 months as developers market the district as part of a wider redevelopment corridor.


Rental yields, redevelopment gains drive home sales in Hong Kong’s To Kwa Wan

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Demand for 2 projects fuels busiest sales weekend in 19 months as developers market the district as part of a wider redevelopment corridor

Demand for 2 projects fuels busiest sales weekend in 19 months as developers market the district as part of a wider redevelopment corridor