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Residential market bloomed in the start of 2023 as long-waited border reopening with the mainland China have come into real eventually. The number of transactions rebounded 22% m-o-m to 3,051 in January after the fourth consecutive month of decline. Of these, the sales of new homes soared 47% m-o-m to 363 while the secondary market saw 2,688 transactions in January, jumped 19% from the previous month.

Home prices rekindled after seventh consecutive month of declines, with a bounce of 0.6% m-o-m to 336.1 in January as the government has removed stringent Covid-19 restrictions. However, the rental index retreated 0.63% from December last year to 173.9 in January, marking the fifth consecutive month of fall……

Housing market remains mired in a record slow down as dampened market sentiment amid the economic downturn and rising mortgage rates. The number of residential transactions in the last quarter of 2022 dived 28% q-o-q to 8,386 cases, hit a 27-quarter low since Q2 2016. For 2022 full year, only 45,050 deals registered, a decrease of 39% lower compared with a year earlier and nosedived to a new low since records started in 1997.

Last quarter, the number of new home sales tumbled 69% over the third quarter 2022 to only 1,284 deals as developers put new launches on held under the sluggish property market…….

The number of transactions for residential property in November reached the lowest level since February 2020 amid rising mortgage rates and bleak economic outlook, dropped 13% m-o-m to only 2,731 cases and hit the third consecutive straight month fall. In November, secondary home deals edged down 4% m-o-m to 2,366 registrations while sales in primary market sank 46% to only 365 transactions.

Along with the depressed sentiment, the private domestic price index…..

The performance of residential sector was fragile amid the rising interest rate. A total of 3,148 transactions were registered in October, slumped 19% m-o-m to a 7-month low.

Among, only 672 transactions were recorded in the primary market, plunged 53% m-o-m to a 6-month low as developers put new launches on hold before the announcement of Policy Address. On the other side, the secondary market hovered at a low level, with a slightly rise of 1% m-o-m to…..

Residential market was dampened by rising interest rates and relentless selling in HK stock market, registrations for residential declined 22% q-o-q to 11,683 cases in the third quarter of 2022. Among, transaction volume in secondary market severely declined by 36% q-o-q to a 15-quarter low of 7,507 deals, as many homebuyers were undecided amid the uncertainty of global economic and interest rates hikeover the quarter.

Meanwhile, several new launches with lower entry price for sales captured a portion of purchasing power. In the primary market, a total of 4,176 transactions were registered, jumped 33% q-o-q to a 3-quarter high….

Primary market is flourishing as several newly projects launch, supported to the residential sector. In Aug, a total of 4,137 transactions were registered in the residential market, rebounded 13% m-o-m. Among, a total of 1,564 transactions were recorded in the primary market, surged 33% m-o-m to a 9-month high as developers adopted competitive pricing strategies and successfully captured purchasing power. Newly projects ‘Novo Land’ and ‘One Innovale’ have achieved decent sales, accounting for nearly 67% of total home purchases in the first-hand market.

The secondary market slightly increased by 3% m-o-m to 2,573 transactions in Aug, remained at a certain low level as upwards pressure on local interest rates. With a weak market sentiment, the private domestic price declined by 1.65% m-o-m to 376.1 points in July and reached a 29-month low. The home price slipped by 4.52% this year, according to the….