RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Tai Wai subscribers not expected to shift to secondary markets: JLL

1,531 new flats in the vicinity are still for launch.

Tai Wai project subscribers are not expected to shift to secondary markets but to the 1,531 new projects in the vicinity amidst overwhelming subscription for the first phase of The Pavilia Tower, JLL announced.

All 769 units at the Phase 1 of The Pavilia Tower were sold in two weeks since its launch on 17 October.

JLL senior director of capital markets Norry Lee mentioned various reasons as to why they think subscribers will not move to secondary markets any time soon.

“First, there are still close to 2,200 units in Phase 2 and 3; second, primary market buyers usually prefer new facilities and may not require immediate accommodation; and third, buyers who are less financially flexible may be more inclined to buy primary units for a higher chance of loan approval or developer financing,” Lee said.

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