Hong Kong home sales up 59.1% to 6,202 units in May
The growth was driven by a number of new launches during the month.
Hong Kong recorded a total of 6,202 of new home sales in May, an increase of 59.1% versus the previous month, thanks to a number of new launches in the primary market.
According to JLL, mass residential capital values dropped another 0.2% m-o-m in May, after a drop of 0.2% in the previous month.
Here’s more from JLL:
A number of new launches were introduced to the market during the month, with mixed sell-through rates achieved. For instance, '10 LaSalle' in Homantin, developed by Kerry Properties, sold 95% of the 60 units put on offer in the recent round of launches, while 'Grand Mayfair' near Kam Sheung Road Station continued to achieve high sell-through rates of over 90% in each round. However, only slightly over 52% of the 204 units introduced at Henderson Land's 'The Quinn ‧ Square Mile' in Mongkok were sold in five rounds of launches.
Among notable luxury sales transactions, an apartment at '21 Borrett Road' in Mid-levels Central was sold for HKD 203.9 million or HKD 88,035 per sq ft, SA.