KF: Luxury residential property in Hong Kong yields 2.3% in 4Q15
In its Greater China Property Market Report for 4Q15, Knight Frank (KF) noted that luxury residential property yields in Hong Kong were 2.3%. The average price for luxury residential space transacted was USD30,218 per square metre (psm). Average rents were USD56.50 psm per month. At the end of the quarter, the vacancy rate was 8.4%. Indicators highlighted by KF for the quarter included the possibility of a 5% fall in luxury home prices through 2016. KF considers that mass residential prices could fall by 5-10%. Home sales in 2015 were 55,982 or 13% less than in 2014.
Source : KF/ February 2016/Hong Kong/RES