Improved buyer sentiment significantly drives residential market activity

July data show rise in transactions.

Improved buyer sentiment led to a noticeable pick-up in recemt market activity.

According to a research note from JLL, July data, which largely reflects sales activity in June, showed monthly home sales rising to 7,792 transactions; up 30.7% m-o-m.

Meanwhile, mass residential capital values edged up slightly by 1.0% m-o-m in July.

Here's more from JLL:

Developers were eager to launch new mass market projects such as Metro6

in Hunghom and Mont Vert in Tai Po.

All 95 units at Metro6 and 1,064 out of 1,071 units at Mont Vert are small to mid-sized units.

In the luxury sales market, a batch of new units at Grand Austin were sold for HKD 463.0 million at an average price of HKD 46,342 per sq ft, saleable.

According to market sources, the house at 10 Bowen Road in Mid-Levels was sold via equity transfer for HKD 400 million (HKD 80,225 per sq ft, gross).