Based on JLL’s fourth quarter 2017 report on the luxury residential market in Asia Pacific, there was a mixed performance.
Of the eight markets covered by JLL, only three saw quarterly price growth in excess of 1.0%.
In Shanghai, sales volume in the high end market contracted in the quarter as higher mortgage rates and down payments reined in demand. In Beijing, sales in new projects bolstered luxury sales. Overall however, the tight policy environment is persisting.
In China, initiatives to promote greater housing affordability and development of the leasing market remained a central theme.
Some governments offered land sites for the development of rental-only housing.
Hong Kong topped the chart with strong annual and quarterly price growth in the primary sales market.
In Hong Kong, capital values rose to records levels, together with strong demand for new launches. Two apartments at the Peak sold for HKD 132,000 per sq …