Signs of recovery in Hong Kong property market as Kai Tak flats draw US$218m in orders

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Signs of recovery in Hong Kong property market as Kai Tak flats draw US$218m in orders - SCMP

Quick Summary:

Hong Kong homebuyers on Sunday rushed to buy new flats on sale in Kai Tak, attracted by the discounted prices and the neighbourhood’s growth prospects.

Kai Tak Sports Park, with facilities including a 50,000-seat main stadium, is near completion and is expected to host Hong Kong’s high profile Rugby Sevens tournament, one of the city’s most popular sporting events, in 2025.“Investors have positive prospects for the future of Kai Tak district, which is going to have more convenient transport and facilities in the coming years,” he said.

Potential buyers at the sales office of Pavilia Forest, developed by New World Development (NWD), at Kingston International Centre in Kowloon Bay.