SHKP, CK Asset, Henderson to dominate 60% of Hong Kong housing amid demand for small units
The three developers will deliver 60 per cent of new homes in 2025 and 2026, up from 40 per cent in 2023 and 2024, JLL says
Three of Hong Kong’s biggest developers – Sun Hung Kai Properties (SHKP), CK Asset Holdings and Henderson Land – are expected to dominate the housing market, as homebuyers increasingly prefer smaller flats amid economic jitters, according to JLL.
The trio were set to deliver 60 per cent of new residential units in 2025 and 2026, up from 40 per cent in 2023 and 2024, according to the property consultancy.
Sales of class A units – measuring 431 sq ft or smaller – accounted for more than 60 per cent of all residential transactions in March, JLL said, up from nearly 50 per cent in 2024. A cut in the stamp duty, announced in February, helped drive those deals.
“Faced with potential interest rate volatility and macroeconomic instability, prospective buyers are increasingly adopting defensive strategies: either postponing purchases altogether or opting for smaller, more affordable flats,” said Norry Lee, JLL’s senior director of projects strategy and consultancy in Hong Kong. “Small lump sum units [have become] a safer choice in uncertain times.”