State Pavilia's Second Round: 88 Units Offered, 7,900+ Registrations, Oversubscribed 88 Times

New World Development (0017)’s residential project in North Point, State Pavilia, launched its first round of sales last week, offering 168 units, which were all sold out on the same day. In response to the high demand, the developer is immediately releasing another 88 units for sale. The second round of sales is scheduled for Wednesday (19th). As of now, the project has received over 7,900 registrations. With only 88 units available, it is oversubscribed by more than 88 times. Registration for the second round will close today at 4PM.

According to the developer, in the first round of sales, approximately 70% of buyers opted for the immediate payment plan, while around 30% selected the installment payment plan. Additionally, 20 groups of bulk buyers purchased two or more units each, including international investors, talent buyers, and local end-users. Among them were large-scale buyers from Singapore, as well as local investors and homebuyers.

The developer added that the sales team would evaluate the progress of the second round before deciding on additional launches, hinting that there is room for price increases in future launches. Since its first launch last month, State Pavilia has sold a total of 188 units, representing approximately 48% of the entire project, which comprises 388 units. The project has generated over HK$2.25 billion in revenue so far, with an average price of HK$22,824 per square foot

28hse - No.1 HK Property Portal Squarefoot - HK Premium Property Portal