JLL: Hong Kong New-Launch Apartment Prices Rebound 15% From Four-Year Low in Skip Real Estate Market Recovery

HONG KONG, June 10, 2026 — New-launch apartment prices in Hong Kong's major districts have rebounded approximately 15% from a four-year low, according to JLL's latest Hong Kong Residential Sales Market Overview released Tuesday. The report signals a meaningful shift in developer pricing strategy, with developers no longer restraining price increases on new units.

Pricing Strategy Shifts From Cautious to Aggressive

According to JLL's project strategy and advisory data, many new developments in 2025 applied only modest price increases of 2% to 5% on lower-quality units, or launched at original prices, reflecting a relatively conservative developer posture. Entering 2026, that strategy has turned more assertive. Individual units at popular projects and first-batch price lists have recorded increases of up to 30%, the firm said, reflecting strong developer confidence in sales prospects.

JLL's Head of Project Strategy and Advisory, Li Yuanfeng, was quoted in the report: "Property prices bottomed out in March 2025, subsequently rebounding gradually driven by the rate-cut cycle, renewed mainland Chinese buyer investment in Hong Kong's property market, and improved market sentiment. Developers in major districts have responded to market changes by abandoning their previously conservative pricing strategies. Pricing in 2026 is more aggressive — not only are they no longer seeking volume through low prices, but premium units at popular projects have seen price increases moving into double-digit percentage territory, demonstrating strong developer confidence in sales. However, as opportunities for price increases grow, the pace of new-launch price increases in the second half of the year will be more moderate, with the trend stabilizing upward."

MTR Corridor Projects Reflect Broader Price Recovery

JLL highlighted several MTR rail-corridor residential projects as illustrative of the recent pricing trend. Grand Seasons in Tung Chung launched in January of last year with a first-batch adjusted average price of approximately HK$14,000 to HK$15,000 per square foot. By early this year, new units at Haiwan I in the same district were priced at approximately HK$15,500 to HK$16,000 per square foot — an increase of more than 10% in a short period, according to the report.

Tai Wai's Parc Seasons III was relaunched this year with a first-batch adjusted average price of approximately HK$21,344 per square foot. Multiple rounds of price increases followed during the sales period, with some premium units priced above HK$25,000 per square foot. The relaunch average price represents an increase of approximately 6.7% compared to the first-batch adjusted average of HK$19,999 per square foot recorded when the project originally launched in 2021. JLL noted the project has not yet fully recovered to its 2021 peak levels.

Blue Coast Capital, situated above Wong Chuk Hang MTR station, was first launched in 2024 with an adjusted average price of approximately HK$21,000 to HK$22,000 per square foot. The most recent price lists and transactions show premium units targeting HK$25,000 to HK$30,000 per square foot, with some high-floor four-bedroom units exceeding HK$30,000 per square foot — representing an increase of approximately 19% to 36% over the first-batch pricing. JLL noted that while prices have improved substantially from the four-year low, they remain approximately 10% to 20% below peak-era projects launched in the same area in 2021, such as Southland, which recorded a first-batch adjusted average of approximately HK$29,689 per square foot.

Tuen Mun Area Records Strongest Pricing Rebound

JLL Research Senior Director Zhong Churu noted that the Tuen Mun development area — among the most actively pursued by mainland Chinese buyers — has recorded the strongest pricing rebound among new launches. Projects launched in the district in 2023 and 2024 generally had first-batch prices ranging from approximately HK$16,000 to HK$20,000 per square foot. In 2026, premium units at new launches in the area have risen to above HK$23,000 per square foot, reflecting a notable improvement in developer pricing power, according to JLL.

Market Context

JLL's report attributes the recovery to a combination of factors including the interest rate reduction cycle, a return of mainland Chinese buyers to the Hong Kong residential market, and an overall improvement in market sentiment. The firm noted that while current pricing represents a significant recovery from the four-year trough, most projects remain below the highs recorded during the 2021 peak period.

JLL (NYSE: JLL) is a commercial real estate services and investment management firm with annual revenue of $26.1 billion, operations across more than 80 countries, and a global workforce of more than 113,000 as of March 31, 2026.

Sources

JLL Hong Kong — New Project Launch Prices Rebound 15% From Four-Year Lows (June 10, 2026)