Hong Kong home sales down 0.2% to 7,579 units in July

There were limited project launches during the month and sell-through rates were modest. 

According to JLL, monthly home sales volume in Hong Kong was largely flat in July, with a slight drop of 0.2% m-om to 7,579, compared to the 7,591 transactions in June. 

Amid the robust momentum in transactions, mass residential capital values remained on an upward trend, rising 0.6% m-o-m in July after a 0.6% increase in the previous month. 

Here’s more from JLL:

A limited number of projects were launched in July. Sell-through rates of projects introduced were modest. Over 72% of the 686 units launched at 'One Victoria', the first residential development project launched on the former airport runway, developed by China Overseas, were sold in two weeks. Meanwhile, 'SKYEHI' in Tuen Mun, developed by K&K Property, sold less than 50% of the 79 units launched on the first day of the project launch. 

Among the notable luxury transactions, a house at 'Shouson Peak' at Shouson Hill was sold for HKD 430.0 million or HKD 101,487 per sq ft, SA. 

In the Government land sales market, a residential site (FSSTL 278) in Kwu Tung was awarded to Wheelock Properties for HKD 4.19 billion or HKD 8,499 per sq ft, SA.