Capital Strategy's He Lehui expects stable upward movement in housing prices in the first half of the year, with minor impact from adjustments to luxury property stamp duty

Capital Strategy (00497.HK) Executive Director He Lehui stated that he expects property prices to stabilize and rise in the first half of this year, with an annual increase in the number of units. Regarding the proposed increase in the stamp duty rate for luxury homes in the "Budget," he believes the overall impact on the property market will be minimal. Additionally, with a limited supply of luxury homes, properties priced over HKD 100 million are unlikely to be sold at a discount due to the increase in stamp duty, and the overall transaction volume of luxury homes priced over HKD 100 million is expected to reach new highs.

The group plans to launch a single-building project on Shun Tak Street in Causeway Bay as early as the second half of this year, offering only about 40 units, primarily targeting small to medium-sized units. Additionally, the project located at 160 to 164 Wellington Street in Sheung Wan is currently in the planning stage and will provide approximately 120 units, also focusing on small to medium-sized units and a few unique units.

As for the project at 350 Nathan Road in Jordan, a total of 252 units have been sold so far, generating approximately HKD 2.38 billion in cash. The group will actively promote the remaining 7 units this year, including the last unique luxury home, which is expected to challenge the project's price and price per square foot records