, Hong Kong

Hong Kong home sales up 35.8% to 3,897 in April

One of the notable transactions was a house at Villa Cove that sold for HKD125.5m.

Hong Kong’s monthly home sales volume rebounded by 35.8% m-o-m to 3,897 transactions in April, compared to 2,869 deals in the previous month. 

JLL says the fall in mass residential capital values moderated to 0.2% m-o-m in April, as market sentiment improved, compared to the 1.9% drop in the previous month. 

Here’s more from JLL:

The drought of new launches came to an end with 'Monaco Marine' kicking off the sale of new flats post-fifth wave. Sell-through rates were generally encouraging for projects. All of the 388 units on offer at 'Grand Mayfair I' near Kam Sheung Road Station, jointly developed by Sino Land, China Overseas and K. Wah, and around 75% of the 308 units launched at 'Monaco Marine' in Kai Tak, developed by Wheelock Properties, were sold on the first day of launch. 

Among notable luxury transactions, a house at 'Villa Cove' in Sai Kung changed hands for HKD 125.5 million or HKD 31,477 per sq ft, SA. 

In the Government land sale market, the tender of a residential development site at Castle Peak Road – Tai Lam in Tuen Mun (TMTL 561), was withdrawn as the tendered premiums did not meet the Government's reserve price. This site is also the first Government land sale site carrying the minimum flat size requirement.

 

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