, Hong Kong

Hong Kong monthly home sales volume hit 2-year low in February

There were only 2,912 transactions during the month.

According to JLL, monthly home sales volume in Hong Kong registered the lowest level in two years, at 2,912 transactions in February (down 31.9% m-o-m), compared to 4,275 cases in January. 

Owing to the compromised buying sentiment, mass residential capital values declined further, down 1.0% m-o-m in February, after dropping by 0.4% in the previous month. 

Developers continued to hold back on new launches due to the strict social distancing measures. The primary market was muted with only 481 transactions recorded. 

The luxury market also quietened down with a drastic drop in transaction volume. As one of the more noteworthy transactions, an apartment at '21 Borrett Road' in Mid-levels Central was sold for HKD 167.8 million or HKD 76,516 per sq ft, SA. 

In the Government land sales market, SEA Holdings broke the Government land sales record in terms of unit price for a luxury residential site (RBL 1203) at South Bay Road, Repulse Bay, for HKD 1.19 billion or HKD 62,352 per sq ft, A.V.

 

Follow the links for more news on

Join Real Estate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!