Digest

PUBLISHED : Wednesday, 11 January, 2012, 12:00am
UPDATED : Wednesday, 11 January, 2012, 12:00am

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HK luxury-home sales down 16.4pc year on year

Sales in Hong Kong of luxury homes worth HK$12 million or above fell 16.4 per cent year on year to 5,828 deals last year, compared with 6,975 in 2010, according to Centaline Property Agency. The total value of deals fell 7.4 per cent year on year to HK$164.98 billion, against HK$178.23 billion in the previous year. The luxury housing estates with the most sales were Imperial Cullinan at Olympic Station, Marinella in Ap Lei Chau, Beverly Hills in Tai Po and Residence Bel-Air in Pok Fu Lam. Peggy Sito

Land supply rise seen boosting flat launches

Hong Kong developers will launch about 16,000 flats on the market this year, the most since 2005, property agency Midland Realty forecasts. Midland chief analyst Buggle Lau Ka-fai said the increase in supply was due to more land becoming available after the government increased land sales. Midland estimates that in the past five years, only 10,565 homes were released on average each year. It also expects that more than 30 per cent of home sales this year will involve new flats. Paggie Leung