Hong Kong home sales dip 3.3% to 7,084 units in May

Blame it on the fewer transactions in the secondary market.

Home sales slipped slightly by 3.3% m-o-m to 7,084 in May, compared to the 7,325 transactions in April, owing to a decrease in transactions in the secondary market, according to JLL. 

The growth in mass residential capital values slowed to 0.3% m-o-m in May against a 0.9% increase in the previous month. 

Here’s more from JLL:

Driven by the launches of large-scale projects, primary home sales gathered momentum during the month and sell-through rates were generally well-received. Over 98% of the 250 units launched at 'South Land' atop Wong Chuk Hang Station, jointly developed by Road King Infrastructure, Ping An Real Estate and MTRC, were sold on the first round of the project launch. Meanwhile, over 66% of the 208 units launched at 'The Henley I' in Kai Tak, developed by Henderson Land, were sold on the first round of project launch. 

Among the notable luxury transactions, a house at '90 Repulse Bay Road' at Repulse Bay was sold for HKD 467.3 million or HKD 83,000 per sq ft, SA.