Hong Kong residential sales down 16.9% to 4,275 transactions in January

Blame it on the resumption of social distancing measures. 

Home sales in Hong Kong declined to 4,275 transactions in January, a 16.9% decline from the 5,145 units in December. JLL says this is largely due to restrictions limiting the number of home viewings.

Here’s more from JLL:

In addition to the pandemic, potential rate hikes forecasted for the year also cast a shadow on the housing market, driving mass residential capital values to fall by 0.4% m-o-m in January after a 0.5% rise in the previous month. 

As some developers opted to postpone new launches owing to the 5th wave of the pandemic, the only new launch in the month received a heated response. All 204 units put up for public sale at 'The Harmonie' in Cheung Sha Wan, developed by Henderson Land, were sold on the first day of two rounds of launches. 

Among the notable luxury transactions, an apartment at 'Mount Nicholson' on The Peak was sold for HKD 583.2 million or HKD 137,870 per sq ft, SA, registering the second highest unit price of an apartment in Asia.