Luxury homes beat year-end slump as high-value sales rise 9.4% in Q4

This was equivalent to sales of 3,297 luxury residential worth $10m and more.

Despite slowing year-end home sales, the luxury residential market was abuzz with leasing and sales activity as high-value sales worth $10m and more rose 9.4% YoY to 3,297 deals, according to Knight Frank Greater China Property Market Report.

Robust demand kept prices high at $251,568 (US$32,173) per square meter or at a monthly rent of $448.04 (US$57.3) psm which posts the highest average price and rents amongst luxury residential markets in Shanghai, Guangzhou and Taipei.

Developers remained active in launching new projects even as the year came to a close with notable transactions of Mount Nicholson in The Peak which fetched a record-breaking $605.21m
(US$77.4m) as well as the sale of 23-39 Blue Pool Road in Island South for $337.79m (US$43.2m).

“There are no signs of policy relaxation in the Greater China region, but luxury residential prices in Hong Kong and Shanghai are expected to increase further,” the report added. 

Photo from The Ruester - Selfmade photography, Public Domain, https://commons.wikimedia.org/w/index.php?curid=7114351