RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Home sales slumped 47.3% to 3,550

Hang Lung Properties sold its 5 batches.

According to December released data, home sales in November slumped to 3,550, down 47.3% m-o-m, with buying sentiment affected by the 15% stamp duty implemented from 5 November onwards, according to JLL.

Against limited transactional evidence, mass residential capital values edged up 0.5% m-o-m in December.

Here's more from JLL:

Among the few new projects launched, Hang Lung Properties was able to sell all five batches (comprising 302 units) at The Long Beach in Tai Kok Tsui.

A house at 1-9 Shouson Hill Road East, Island South was sold for HKD 143 million, just 3% higher than the initial purchase price back in 2010.

According to the government’s latest quarterly land sale programme, the MTRC intends to release West Rail Kam Sheung Road Station and the first phase of Wong Chuk Hang Station yielding a combined 2,450 flats for tender in 1Q17.

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