Primary Market: 1,804 Transactions in Nov, 10-Year High

• 3 new projects postponed sales due to Tai Po fire; Nov primary transactions hit 1,804 (up 2.5% MoM), exceeding 1,000 units for 10 consecutive months—a new high since 2013 New Primary Sales Measures.
• 2024 primary transactions reached 18,700 units (up 21% YoY), expected to challenge 20,000 units in Dec; Park Summit (Yau Tong) sold 149 units (HK$830M) as Nov top-seller.
• Interest rate cuts boosted luxury and bulk deals: Kai Tak Bay Phase 1 recorded HK$54M bulk purchase of 10 units; Kowloon Tong detached house sold for HK$338M (HK$24,379/sq ft).

Industry Outlook: 3%-5% Home Price Rise in 2025, Stable Rent Growth

• Lawrence Poon (Lai Sun Development) predicts: 2025 home prices to rise 3%-5%, primary sales to stabilize at 20,000 units; mainland buyers account for over 20%, optimistic about luxury properties, Northern Metropolis, and affordable units.
• Talent schemes attracted 220,000 talents to HK, driving rents up for 10 consecutive months (expected 2%-3% rise in 2025); Lai Sun’s new projects to integrate AI for smart homes and construction site safety.

Luxury Rental & Sales: Zhou Zhuohua’s Former Home Rents for HK$80k, Arch Sky Tower Down 40%

• Rentals: Tsim Sha Tsui Skye Mansion (ex-Zhou Zhuohua) rented for HK$80k/month (1.8% yield); The Peak Cape Collinson Road villa rented for HK$525k/month (5-year lease).
• Sales: Arch Sky Tower “Sky Villa” sold for HK$315M (40% depreciation in 11 years); Mid-Levels West La Splendeur unit failed to sell at HK$95M, now rented for HK$128k/month.

Secondary Market: Some Units Sold at Loss, Investors Enter for Rental Yield

• Loss-making cases: Tuen Mun Ocean Shores 2-bedroom sold at HK$6.83M (HK$2.01M loss, 23% depreciation in 4 years); Sai Ying Pun The Avenue 1-bedroom lost HK$195k after 13 years.
• Investment deals: Ap Lei Chau South Horizons 2-bedroom sold with tenancy for HK$7.28M (3% yield); Taikoo Shing 2-bedroom transacted at HK$4.33M (lowest entry price in the estate).

Commercial & Subsidized Housing: Canon Moves to New Office, TKO Subsidized Housing Sales Double

• Commercial rentals: Canon leased entire floor at 83 King Lam Street (32,000 sq ft, HK$20+/sq ft) to cut costs; Kowloon Bay THE CENDAS secured first tenant (engineering firm) upon completion.
• Subsidized housing: Tseung Kwan O recorded 96 subsidized housing transactions (up 20% MoM); Tsuen Wan Sheung Chui Court had 9 deals (dominated by White Form buyers).

Land Planning & Shops: Sai Kung Project to Build 147 Units, TST Shop Asks HK$300k Rent

• Land: Sai Kung Sha Ha low-density project approved in principle, to build 147 units (including 12 small houses) if finalized.
• Shops: Tsim Sha Tsui Haiphong Road shop (840 sq ft) asks HK$300k/month (HK$357/sq ft), near MTR, suitable for retail/catering.

Wanchai Commercial Land & Offices: Govt Site to Be Auctioned in 2027, OCBC Buys China Huarong Tower for HK$1.16B

• Commercial land supply: Wanchai North 3 government buildings redevelopment (2.5M sq ft), to be auctioned in 2027, completed in 2034; former Wanchai Married Police Quarters site to be released after International Mediation Institute completion.
• Office sales: Wanchai China Huarong Tower sold to OCBC Bank (HK) for HK$1.16B (for self-use); Capital Centre mid-floor unit asks HK$20.5M (HK$14,974/sq ft).

Estate, Policy & Property Recommendation

• Sha Tin City One: 17 transactions in Nov (HK$13k/sq ft avg), lowest entry price HK$3.6M, focused on 2-bedroom starter units.
• Mortgage policies: Relaxed multiple times (2019-2024); 70% LTV for self-occupied properties below HK$30M, 90% LTV for first-time buyers up to HK$10M.
• Property recommendation: Sai Kung Clear Water Bay sea-view villa (2,100 sq ft, 4-bed + garden/terrace), asks HK$23M (HK$10,952/sq ft).

Home Price Indices: CCL Hits 76-Week High, Secondary Profit Cases Rise

• Centaline CCL Index at 143.46 (up 3 weeks in a row), 76-week high since Jun 2024; Rating and Valuation Department Oct index at 294.3 (up 3.3% from Mar low).
• 1,571 secondary profit-making cases in Oct (62.3% share), 7-month high; City One Shatin and Skye Mansion lead with 93% profit rate.