Residential

Apart from the affordable housing segment, the aspiring middle class is also driving demand. 

Asking rents rose 14.9% in the year to September.

Rents for hotel-like units rose 5.1% in Q3.

The cumulative apartment supply only grew 0.1% to 219,859 units in Q3.

This is due to the new price benchmarks set by projects in the OCR.

Japanese expats favour West Kowloon whilst Mainland students dominate Hung Hom.

Chuan Park condo was sold for $890m, the largest deal since Tulip Garden was sold 4 years ago.

Resale prices could rise by up to 10% for the whole year. 

Competition is set to be tight as more new projects enter the market.

The most expensive penthouse was sold for almost $60m.

NOVO LAND Phase 1B in Tuen Mun was oversubscribed by about 48 times.

It’s still below pre-pandemic levels but the occupancy rates are set to remain stable.

Only 29 units of Good Class Bungalows were sold during the period.

Here are the recent landmark transactions in regional markets.

And average asking rents in the C5W submarket rose 1.5%.

Launches increased 192% to 3,044 units during the quarter.