According to July released data, monthly home sales dipped 42% m-o-m to 3,515 in June, against few launches in the market.

With mass residential capital values now up 22.6% since the last trough in May 2016 growth moderated to just .5% m-o-m in July from 1.3% the previous month.

Aggressive pricing at '63 Pokulam' - jointly developed by Kowloon Development and Dansend International 0 in Western District contribuited to just 17 units out of a project total of 350 units being sold while L'Avenue Properties' 'L' Wanchai' in Wanchai was able to sell just over 15% of the 100 units at the stand alone building.

In the luxury market, two units at 'Altamira' in Mid-Levels West changes hands in July for a combined HKD 263.8 milion (each for HKD 61,292 per sq ft, SA); the highest unit price achieved in the building.

The winning streak held by PRC developers over the government residential land sales market since the start of the year was snapped by Sino Land after they won a site (STT 611) in Whitehead, Ma On Shan for just over HKD 1.38 billion (A.V. HKD 11,588 per sq ft).

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