Hong Kong residential transaction volume down 6.3% to 3,875 units in September
Transactions for the secondary market reached 2,440 units.
Home buyers in Hong Kong have become more cautious when making purchasing decisions. According to JLL, the transaction volume of the primary and secondary market was 1,435 units and 2,440 units, respectively, totalling 3,875 units compared to 4,137 in August, a 6.3% m-o-m decline.
Here’s more from JLL:
Mass residential values fell for the ninth consecutive month in September, declining by 2.5% following a drop of 0.7% in August.
New launches in September set first-launched prices almost unanimously below prevailing secondary prices but achieved varying sell-through rates. 'Wetland Seasons Bay (Phase 3)' in Tin Shui Wai, developed by Sun Hung Kai Properties, sold all 80 units put up for sale in the first launch. Meanwhile, 'Miami Quay I' in Kai Tak only sold 39 units out of 137 units in the first launch.
CK Asset announced the sale of the entire unsold portion of the project '21 Borrett Road' in Mid-Levels, totalling 152 luxury residential units, 242 residential parking spaces and 31 motorcycle parking spaces, to Singapore fund Sino Suisse for HKD 20.8 billion, or HKD 62,000 per sq ft, SA.
A residential site (STTL 643) at Hin Wo Lane, Shatin, was awarded to a JV comprising Wing Tai Properties and Vanke Overseas for HKD 786.4 million or HKD 8,802 per sq ft, AV.