Secondary market deals fueled $51.2B in December residential transactions, JLL says

Total residential S&P transactions reached 5,883 units, with 4,144 from the secondary market.

Total residential sales and purchase agreement (S&P) transactions in December 2025 reached 5,883 units for a total value of $51.2b, JLL said.

Of these units, 4,144 were secondary market transactions, or the highest monthly figure recorded during the year, it added. Primary market S&P volume stood at 1,739.

Mass residential capital values also rose by 0.7 month on month in December, marking the fourth consecutive month of increase.  

Amongst the notable transactions during the period was a residential site at Choi Hing Road in Jordan Valley that was awarded to a consortium led $1.6b.

Coupled with active developer bidding, this transaction reflects sustained improvement in market sentiment and developers' confidence in the sector's outlook, JLL said.

In the primary market, SIERRA SEA Phase 2A by Sun Hung Kai Properties in Sai Sha sold all 213 units launched in the first round, at an average price ranging from $10,000 to $13,800 per square feet (sq ft).

Amongst major luxury sales transactions, two houses at 6 DEEP WATER BAY ROAD were sold for $2.2b, or $147,010 per square feet, which JLL said is one of the highest unit prices achieved in recent years for luxury residential properties.