Residential volume drops to 5,337 sold units in November

Monthly home sales fell 6.3% MoM.

Monthly home sales dropped 6.3% MoM to 5,337 sold units in November on the back of fewer launches in the primary market, according to JLL’s Property Market Monitor.

However, capital values rose 1.3% MoM in December as housing prices rose at the fastest pace in five years. 

Buying sentiment also held up with ‘Park Reach’ in Yuen Long selling all 63 units whilst over 90% of 542 units of Cullinan West II were sold. 

Ten units at Citi Pacific’s Kadooria also sold for $1.02b or $49,997 per square feet. 

In terms of land development, Kerry Properties and Sino Land won the MTRC development tender for Wong Chuk Hang Station Package Two which can yield 600 flats by 2023.