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New Property Development

26 Units
呈暘建設開發有限公司
69 Units
兆峰開發建設股份有限公司
88 Units
Huaku Development Co., Ltd
103 Units
旭記建設
8 Units
中實開發有限公司
341 Units
Kuo Yang Construction
18 Units
紘安建設(股)公司
19 Units
銓民建設股份有限公司
96 Units
Songshan Cultural and Creative Park
70 Units
Ji Mei
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About New Property Developments

Many Hong Kong people see homeownership as a life-long goal and consider property investment to be a very lucrative business. Among all types of housing, new development projects are some of the most highly sought after. It is a common sight on weekends to see thousands of first-time homebuyers and sophisticated investors flocking to project launches, waiting in line for a chance to buy a unit despite the deterring high prices in the local market.

To buy a new property, one typically has to use a realtor to handle the transaction and, more importantly, to enjoy the rebate realty agencies offer. Every month, the Lands Department releases a list of new development projects which are consented for sales on its website. This list is usually how the general public gets wind of a new property launch.

Once the project is consented, the developer will upload a sales brochure on the new development's official website in weeks (no later than 7 days before the sale date). The brochure contains detailed information on the properties, such as floor plans, a summary of the deed of mutual covenant, fittings, finishes and appliances.

No later than 3 days before the sale date, the developer will also release the sales arrangements which state the time, date, and venue of the sale and descriptions of the specified residential properties that will be offered to be sold.

The balloting, flat selection, and signing of Preliminary Agreement for Sale and Purchase will usually take place on the same day during the sale period. Successful buyers can then apply for home mortgages with the preliminary agreement and choose to begin mortgage payment before or after the completion date.

It is essential to conduct a home inspection before moving into a new development. In cases of defects, developers will bear the responsibility and cost of remediation.