4 ways gov't can support the residential market
The residential market's average monthly transaction volume in 10M23 was 25% below the previous 4-year average.
The residential market turned more sluggish in 2H23 as buyers became more cautious amidst rising interest rates and a challenging external environment.
Mass residential capital values dropped 3.1% in November, whilst luxury residential prices also fell by 4.1% in the same period.
The average monthly transaction volume in the first 10 months of the year was 25% below the previous four-year average.
To support the residential market, JLL laid out three suggestions for the government to consider:
- Remove all cooling measures.
- Provide interest-free loans to assist the young generation of first-time buyers in getting on the property ladder.
- Prioritise on public rental housing and set a clear distinction between private and public housing markets.
- Speed up infrastructure developments in existing residential clusters, especially in Kai Tak.