, Hong Kong

Hong Kong home sales down 25% to 4,562 in January

Meanwhile, pent-up demand drove sales in the secondary market.

With primary transaction volumes reaching a record-low since December 2018, monthly home sales dropped by 25% m-o-m to 4,562 in January.

According to JLL, the sales momentum in the secondary market has been sustained by pent-up demand with mass residential capital values dropping moderated to 0.3% m-om in January, compared to the 0.6% drop in the previous month.

While developers turned conservative in marketing new projects at the beginning of the year, a limited number of projects were launched in January. However, the sell-through rates of projects introduced were generally high. All of the 145 units launched at ‘Monaco’ in Kai Tak, developed by Wheelock Properties, and over 95% of the 179 units launched at ‘LP10” in Tseung Kwan O, jointly developed by Nan Fung and MTRC, were sold on the first day of the project launches.
Among notable luxury transactions, an apartment at ‘The Albany’ in Mid-Levels Central was sold for HKD 103.5 million or HKD 51,036 per sq ft, SA.

THE SOUTHSIDE Package Five Property Development, atop Wong Chuk Hang Station, tendered by MTRC, was awarded to a consortium comprising of New World Development, Empire Group Holdings, CSI Properties and Lai Sun Development. The project will provide up to 1,050 units upon completion.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Realestate Asia in your inbox

Taiwan commercial transaction volumes hit record highs in Q1

Total volumes surged 241% to USD1.5b during the quarter.

Are Thai property buyers finally ditching the ‘wait and see’ approach?

They are beginning to establish acquisition strategies for this year.

Don’t be fooled by Singapore retail sector’s improving demand indicators 

The sector’s recovery won’t start until 2022.

Philippine residential prices to inch up 1.5% in 2022

The pace of growth will likely hinge on a rebound in office leasing. 

APAC data centre demand to double in 3-5 years

Singapore, Hong Kong, Mumbai, Sydney, Seoul and Tokyo are promising markets, says Knight Frank.

Japan’s property investment market unfazed by ongoing lockdowns

There were 18 en-bloc transactions with a combined value of USD2.3b in Q1 2021.

Indonesian property sector to get a boost from these government incentives

These include a waiver of the 10% VAT on property sales under IDR2 billion.

These 3 properties bolstered Singapore’s impressive home sales in Q1

Over 42% of the 3,376 units sold during the quarter were from these properties.  

Korean office transaction volumes hit USD2.1b in Q1

There were 7 en-bloc transactions closed during the quarter.

Here’s why Melbourne’s office market will see more activity in Q2

Colliers expects increased market activity across assets higher up the risk curve. 

Contact me about the awards