One Toscana in Hong Kong’s Discovery Bay has launched a “move in now, pay later” payment plan that allows buyers to take early occupancy while spreading the cost of a property over as long as 540 days. The scheme, introduced by co-developers HKR International and CITIC Pacific, targets global top talent and overseas professionals seeking a home in Hong Kong without paying the full purchase price upfront.
Under the arrangement, buyers need to pay an initial 8 percent of the property price within 30 days to qualify for early occupancy on the 35th day, according to Raymond Chan, assistant general manager of sales and marketing at HKRI.
Purchasers must then make payments equivalent to 0.75 percent of the total property price every 90 days, alongside an occupancy fee calculated at the same rate. The outstanding balance must be settled within the extended completion period, which can run for up to 540 days.
The developers said deposits and occupancy fees paid during the arrangement can be offset against the total purchase price. Buyers who complete their purchases earlier may also qualify for a cash rebate of up to 3 percent of the property price, with the amount depending on the length of the completion period.
The scheme offers prospective purchasers more time to arrange financing and manage their cash flow while allowing them to occupy their homes before completing the full payment. However, the actual financial benefit will depend on the property's price, the buyer's payment schedule and the terms attached to early occupancy and completion.
Buyers Can Move In After an Initial 8% Payment
The payment plan centres on reducing the amount buyers must pay before taking possession of their homes.
Under the terms outlined by Chan, purchasers have 30 days to pay an initial 8 percent of the property price. They can then move in on the 35th day, rather than waiting until the entire purchase price has been settled.
For buyers who need accommodation in Hong Kong, the arrangement could help coordinate a property purchase with a job relocation or a change in residence. Overseas professionals moving to the city may otherwise need to arrange temporary accommodation while completing the financial and administrative steps involved in purchasing a home.
The developers are positioning the scheme towards global top talent, although the supplied announcement does not specify eligibility criteria or whether buyers must meet particular employment, immigration or income requirements.
The initial payment also means buyers must have access to a substantial sum before they can take early occupancy. Although 8 percent is lower than the full purchase price, the amount will vary according to the price of the property selected.
Prospective purchasers should therefore establish the exact payment deadline, the conditions for taking possession and any additional costs before committing to the arrangement.
Payments Spread Across a 540 Day Period
After the initial payment, purchasers must pay 0.75 percent of the total property price every 90 days, Chan said. An occupancy fee of the same amount is also payable during the period.
The remaining purchase balance must be settled within a maximum completion period of 540 days. This gives buyers more time to organise their finances than a transaction requiring full payment over a shorter period.
The arrangement separates the process of moving into a property from the final settlement of its purchase price. Buyers can occupy their homes while continuing to meet scheduled payments, subject to the developer's terms.
The developers also said deposits and occupancy fees paid during the period can be offset against the total purchase price. That provision matters when assessing the overall cost of the arrangement, as purchasers need to understand which payments reduce the outstanding balance and how each amount is treated in the final settlement.
The exact financial effect will depend on the payment schedule and the contractual terms. Buyers should request a written breakdown showing the initial payment, each subsequent instalment, occupancy fees, the remaining balance and the deadline for completion.
They should also confirm what happens if they cannot meet a scheduled payment or complete the purchase within the agreed period. The supplied announcement does not detail penalties, cancellation rights or other consequences for buyers who fail to meet the terms.
Early Completion Can Bring a Cash Rebate
The scheme includes an additional incentive for buyers who complete their purchases before the end of the extended payment period.
Alexander Lee, director of CITIC Pacific Property Agents, said purchasers could receive a cash rebate of up to 3 percent of the property price, depending on the length of the completion period.
The rebate provides a potential financial benefit for buyers who can settle their purchases earlier. However, the maximum advertised amount does not mean every purchaser will automatically receive 3 percent.
The amount depends on when the transaction is completed, according to Lee. The announcement supplied no detailed rebate schedule, so prospective buyers would need to obtain the applicable terms from the sales team before calculating the potential savings.
For example, a purchaser considering an early settlement would need to compare the rebate available against the cost and timing of arranging the remaining funds. The decision would also depend on the buyer's existing financial commitments and whether settling sooner offers a better overall outcome than keeping funds available for other expenses.
The developers' announcement does not specify whether the rebate is paid in cash after completion, deducted from the settlement amount or subject to other conditions. Those details should be confirmed in writing.
What the Plan Means for Overseas Professionals
The payment arrangement is aimed at global top talent and overseas professionals, a group that may need to balance relocation expenses with the cost of buying a home.
Moving to Hong Kong can involve several financial commitments at once, including accommodation, transport and other costs associated with settling into a new city. A scheme that allows buyers to occupy a property after an initial payment could give eligible purchasers additional time to organise their finances.
The extended period may also help buyers coordinate their property purchase with the timing of their relocation or other financial arrangements. Nevertheless, the scheme does not remove the obligation to pay the full purchase price within the agreed period.
Buyers should also distinguish between the advertised payment structure and the total cost of ownership. The supplied announcement does not provide property prices, mortgage arrangements, legal fees, stamp duty or other potential transaction expenses. These costs may affect whether the plan suits an individual purchaser.
Anyone considering the offer should ask the developer for a complete schedule of payments and charges, including how occupancy fees are calculated, how they are credited against the purchase price and what conditions apply to the cash rebate.
One Toscana Introduces a More Flexible Purchase Schedule
One Toscana is jointly developed by HKR International, whose Hong Kong stock code is 0480, and CITIC Pacific. Its new payment arrangement combines early occupancy, scheduled payments and an incentive for earlier completion.
The central offer is straightforward: buyers who meet the initial payment requirement can move in on the 35th day, while the remaining purchase price can be settled over a period of up to 540 days. Scheduled payments and occupancy fees apply during that period, and eligible purchasers may receive a rebate of up to 3 percent if they complete earlier.
The appeal will depend on the terms offered to individual buyers and their ability to meet the payment schedule. The extended period may offer flexibility, but purchasers still need to understand their contractual obligations and the total amount payable before signing an agreement.
Considering a home at One Toscana? Contact the developer for the full payment schedule, occupancy conditions and rebate terms before making a purchase decision.