4 ways gov't can support the residential market

The residential market's average monthly transaction volume in 10M23 was 25% below the previous 4-year average.

The residential market turned more sluggish in 2H23 as buyers became more cautious amidst rising interest rates and a challenging external environment.

Mass residential capital values dropped 3.1% in November,  whilst luxury residential prices also fell by 4.1% in the same period.

The average monthly transaction volume in the first 10 months of the year was 25% below the previous four-year average.

To support the residential market, JLL laid out three suggestions for the government to consider: 

• Remove all cooling measures.
• Provide interest-free loans to assist the young generation of first-time buyers in getting on the property ladder.
• Prioritise on public rental housing and set a clear distinction between private and public housing markets.
• Speed up infrastructure developments in existing residential clusters, especially in Kai Tak.