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Hong Kong residential market dazzles


Without a crystal ball, one must look at both the global and local economic drivers and at Colliers we believe that they continue to point in one direction – up. If you would like to know more about residential valuation, financing, or see what could be for you and your real estate needs, don’t hesitate to contact Angus Luk of the Valuation & Advisory Services team.

 Jan-Apr 2021 vs Jan-Apr 2020 by purchase price
 Purchase price (HK$)  2021 transactions   2020 transactions  % Change
 <10M  24,164  16,163  50%
 >10M to 50M  6,380  2,630  143%
 >50M to 200M  205  157  30%
 >200M  25  257%
 Total  30,774  18,957  62%

Between January and April, sales in the “Under HK$10m” category increased by 50% YOY, benefitting from the Mortgage Insurance Programme announced by Chief Executive Carrie Lam in the 2019 Policy Address, which allows first-time home buyers to receive a mortgage loan of up to 90% of the property’s value (a significant change from the previous 50% limit).

The “HK$10M to HK$50m” properties enjoyed even higher growth rates likely due to increased demand for larger living spaces as more people work from home and their children learn from home due to COVID-19. 

Though the number of transactions is small, the January and April 2021 growth is impressive in the “Over HK$200m” band. The reasons are as follows:

  1. Investors’ confidence returned due to less political instability and the ability to deal with new waves of COVID-19.
  2. Developers launched more ultra-luxury homes in this period, many of which were purchased by buyers from the PRC where the economy has rebounded quickly. 
  3. Buyers believe the “Fung shui” is better for wealth and good health in traditional luxury districts. 

Without a crystal ball, one must look at both the global and local economic drivers and at Colliers we believe that they continue to point in one direction – up!


Related Experts

Nigel Smith

Managing Director

Hong Kong

Nigel Smith is the Managing Director of Colliers International’s Hong Kong Office. He is responsible for daily operations, key strategic opportunities, driving client engagement and securing new business.  Having joined Colliers in 2015 he has since turned the Hong Kong business around through a powerful combination of actionable research, innovative marketing and personalised service delivery. He is actively committed to diversity and inclusion, supporting company and community initiatives towards gender equality and wellness.

Nigel is also a member of the Asia Leadership Team.

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Angus Luk

Associate Director

Valuation & Advisory Services

Hong Kong

Mr Angus Luk is a professional in mortgage valuation for various types of properties including commercial, industrial, residential, agricultural land and village-type housing. He has over 15 years of experience in property valuation for the Hong Kong market and is strong on Residential, Industrial, Retail and Office properties..

Mr Luk is now the Associate Director at Colliers. He currently leads the Banking Services Team,  provide fast and instant valuation service to our clients, ranging from valuation of residential units for financing or complicated development site or commercial complexes for financing  purpose. 

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