Hong Kong residential sales up 5.4% to 5,844 units in September

A notable luxury transaction was an apartment sold for HKD160m.

A recent report from JLL reveals Hong Kong residential sales increased 5.4% to 5,844 in September, owing to improved buying sentiment in the market.

Mass residential capital values remained stable in September with a 0.4% m-o-m increase, similar to the 0.5% growth recorded in August. 

Here’s more from JLL:

Driven by an increased number of new launches, primary home sales gathered momentum in September. However, sell-through rates at new launches were mixed. For example, over 86% of the 511 units on offer at 'La Marina' atop Wong Chuk Hang Station, jointly developed by Kerry Properties, Sino Land and MTRC, were sold in three weeks. However, less than 48% of the 151 units launched at 'The Holborn' in Sai Wan Ho, developed by Henderson Land, were sold in two weeks. 

Among the notable luxury transactions, an apartment at '21 Borrett Road (Phase 1)' at Mid-Levels Central was sold for HKD 160.0 million or HKD 74,280 per sq ft, SA. 

According to the government's latest quarterly land sale programme, two residential sites, one each in Tai Po and Repulse Bay, will be released for sale in 4Q21. The total estimated flat yield is 210 units.