Hong Kong Residential Sales

Housing Investment Consultancy
Residential Sales

July 2019

The super luxury segment saw some price adjustment with both Mainland and local HNWIs sitting on the sidelines.  Elsewhere, buyers were looking for bargains given the uncertain economic environment but very few landlords were prepared to entertain.

The super luxury segment saw some weakness in demand with both Mainland and local HNWIs adopting a wait and see attitude, resulting in a price adjustment in the townhouse market over Q2.

Luxury apartment prices on Hong Kong Island held up well though transaction volumes declined, as many potential purchasers were looking for bargains in the secondary market but few landlords were prepared to lower prices.

The Kowloon / NT luxury market saw transactions rebounding in 1H/2019 thanks to aggressive primary launches, leading to an increment in prices over Q2.

Mass sentiment was mostly affected by external uncertainties as well as a volatile stock market performance, while active primary launches by developers meant both transaction volumes and values were at par with last year.

The latest sale of the Kai Tak residential site for a price ‘below market expectations’ may indicate that developers are turning cautious on future residential prospects, but the return of Mainland developers could lead to more aggressive bidding for larger and more prime residential sites.

 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

Two Exchange Square

+852 2842 4573

 

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