Residential

Colliers estimates Hong Kong land revenue last year only 50% of target.

A big bulk of these units are in the ultra luxury segment. 

Over 12,000 units were sold in the quarter.

Only 171 prime units were sold in the last quarter of 2022.

Weaker sales during the Lunar New Year and fewer sellers caused the decline.

But home prices are not expected to increase significantly.

Private home prices inched up by just 0.4% in Q4 2022.

There will be nearly 23,000 units to be added to the city’s supply.

Luxury units accounted for over half of the new launches in Q4.

The proportion of Mainland buyers was at an all-time low of 29% in 2022.

It was a sale of a site on the Peak for HK$1 billion.

Rents will be subdued in the first half of the year.

The short-term outlook remains challenging.

Only 170 units were sold in December 2022.

Singaporeans likely went on a ‘holidays before home purchase’ mode.

Townhouse rents saw the most significant decline of 5.8% in Q4.