Hong Kong homebuyers are rapidly buying newly released flats, indicating sustained strong demand in the housing market. Developers are accelerating new construction to meet this demand, with several projects selling out quickly. For example, all 120 units at One Victoria Cove I were sold, and 19 of 45 units at Pavilia Farm III found buyers.

Hong Kong homebuyers snapped up most of the new flats released on Thursday, with developers beginning to ramp up new construction amid sustained housing demand. All 120 units at the One Victoria Cove I in Hung Hom, jointly developed by Henderson Land Development, Hysan Development and Empire Group, were sold by 5.20pm, according to agents. Meanwhile, New World Development (NWD) and MTR Corp’s Pavilia Farm III above Tai Wai MTR station found buyers for 19 of the 45 units as of 6.50pm. Most recent...