Sales volume in residential market dipped 2.3% to 3,608

What should developers do?

According to Jones Lang LaSalle, sales volumes in the overall market contracted further with the number of residential sale and purchase agreements falling to a monthly average of 3,608 transactions during October-November, 2.3% lower than the monthly average in 3Q13.

In an effort to stimulate buying demand, developers offered more notable discounts and incentives for new
launches.

"Sun Hung Kai Properties, for example, offered discounts equivalent to up to 30% on listed prices in its re-launched project, The Cullinan, in West Kowloon," Jones Lang LaSalle said.

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