Asia Pacific Residential Real Estate News
Asia Pacific Residential
Hong Kong Developers Losing Appetite for Buying Luxury Residential Sites
According to JLL's latest Hong Kong Residential Market Monitor report, property developers are losing appetite for acquiring luxury residential sites and have shifted their focus to mass residential sites due to slow sales velocity, increasing financing costs and longer payback periods of luxury residential developments.
Hong Kong's Housing Inventory Spike Will Take 5.4 Years to Digest
According to JLL's latest Residential Market Monitor report, Hong Kong's primary residential market has a total of 79,000 new homes available, which may take about 5.4 years for developers to sell at the current sales velocity.
Hong Kong Residential Property Prices Drop Twelve Percent in 2022
According to JLL, rapid U.S. rate hikes, a fifth wave of Covid-19 and ongoing weakened economic outlook have triggered the downturn in Hong Kong's housing market in late 2022.
Global Home Prices Still Rising in 2022, But at Much Slower Pace
According to international property consultant Knight Frank, house prices across 56 countries and territories are still rising at a rate of 8.8% per annum, down from 10.9% at their peak in Q1 2022.
