Published:
Guess how many Hong Kong properties worth over $20m were sold in 4Q13
This shot up 115%.
According to Jones Lang LaSalle, the discounts on offer in the primary sales market helped lift transaction volumes in the luxury segment of the market with preliminary data showing 445 properties priced above HKD 20 million being transacted in 4Q13, up 115.0% q-o-q albeit off of a low base from 3Q13, but still down 12.8% y-o-y.
Seven residential sites were sold via government public tender during 4Q13, fetching a combined HKD 5.1 billion.
"Luxury rents continued to trend lower during the quarter, owing to the on-going weakness in leasing demand and tightening budgets from expatriates in the financial sector," Jones Lang LaSalle said.
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