Hong Kong builders rush to sell 200 flats as expectation builds for 2025’s first rate cut

After more than two years of new flats selling for less than second-hand units, the price gap has started to narrow, analyst says

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A view of Villa Garda, developed by Sino Land, in Lohas Park. Photo: Sun Yeung

Published: 12:30pm, 15 Aug 2025Updated: 1:35pm, 16 Aug 2025

Corrected [1:34pm, 16 Aug, 2025]

[1:34pm, 16 Aug, 2025]
Corrects per square foot price range in the second paragraph

Hong Kong developers rushed to put more than 200 residential units on the market for sale on Friday, as they took advantage of the market’s anticipation of the first interest rate cut of 2025, which may take place as soon as mid-September.

Most of the flats were offered at two locations on the Kowloon peninsula. A consortium led by Sino Land put up 109 units of Villa Garda II in Tseung Kwan O at between HK$14,245 and HK$17,940 per sq ft after discounts.

In Kai Tak on the seafront runway of the city’s former airport, 66 apartments at Victoria Voyage are on sale at an average price of HK$29,628 per sq ft. The developers are China Overseas Land & Investment, Henderson Land Development, K Wah International and Wharf (Holdings).

Half a dozen smaller developers had a few dozen leftover homes from previous launches on the market.

Long queue of buyers of Villa Garda II flats in Tseung Kwan O at the sales office of Sino Group at Empire Centre in Tsim Sha Tsui on July 17, 2022. Photo: Edmond So

Sino Land sold 52 of its 109 flats at Villa Garda II via public sale and private tender as of 6pm. The consortium had sold more than 560 flats at the project within one month.

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