2025-02-27 28Hse Editor
State Pavilia, a new development by New World Development (0017) in North Point, has recorded its first forfeited deposit case. A buyer purchased a one-bedroom unit for HK$6.439 million during the first round of sales but backed out just five days later, forfeiting over HK$322,000 in deposit.
The unit in question is Flat A7 on the 12th floor, with a saleable area of 359 square feet. It was sold on February 15, 2025, under the 90-day cash payment plan, which included incentives such as a stamp duty rebate and an early-bird discount.
However, the buyer failed to proceed with the transaction after signing the provisional sale and purchase agreement.
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