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Hong Kong retail sees positive momentum amidst policy relaxation: report

This year reflected a significant uptick compared to the previous year with a $2b weekly run rate.

First hand sales across Hong Kong’s retail sector amounted to above $10b in the first week and have maintained this level by the second week since policy relaxation, according to Jefferies Equity Research.

According to the report, the launch of Seasons Place with its first batch of 368 units at 100% sell-through, equivalent to $2.4b contracted sales, sets the sector’s strong momentum to come.

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In addition, Henderson reached $5.9b in sales at 946 units since policies were relaxed, whilst SHKP recorded $2b in sales.

Different developers said about 30% of buyers are non-local and overall sentiment is positive with the demand outlook as population rises under the talent schemes and the reintroduction of investment and overseas buyers.

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