Pavilia Bay III Sells High-Floor One-Bed at Record HK$9.45M
AM730 · 2 SOURCESabout 3 hours ago4 MIN
Summary
New World Development and MTR Corporation's Pavilia Bay Phase 3 (柏傲莊III) project achieved a record sale on June 27, with a high-floor one-bedroom unit fetching HK$9.449 million—the highest price ever for a one-bedroom flat in the completed development. The 359-square-foot residence at Tower 8B, 51st floor, Flat F, commanded HK$26,320 per square foot, reflecting strong demand for well-positioned properties near major transit hubs.
Key Points
- The unit at Tower 8B, 51/F, Flat F features a one-bedroom with open kitchen layout and open internal garden views
- Sale price of HK$9.449 million sets a new record for one-bedroom units in the completed Pavilia Bay III development
- Price per square foot reached HK$26,320, demonstrating premium valuation for compact units in the project
- Buyer conducted extensive comparisons across multiple new projects before selecting the development for its prime location above Tai Wai Station
- The project offers direct MTR connectivity and a large shopping mall—a rare combination in the market
- Since the Pavilia Bay series relaunch, developers have sold 400 units generating over HK$6.5 billion in proceeds
- Pavilia Bay III comprises 2 towers with 892 units ranging from one to four bedrooms, with emphasis on three- and four-bedroom configurations
Why It Matters
This transaction signals sustained buyer appetite for residential units near major MTR interchanges, even at record price points. The strong sales momentum—with 400 units sold in the relaunch phase—indicates continued confidence in New Territories transit-oriented developments and may influence pricing strategies for upcoming launches in the area .
This transaction signals sustained buyer appetite for residential units near major MTR interchanges, even at record price points. The strong sales momentum—with 400 units sold in the relaunch phase—indicates continued confidence in New Territories transit-oriented developments and may influence pricing strategies for upcoming launches in the area .