2025-02-21 28Hse Editor
Henderson Land (0012) is poised to unveil a new residential project in Cheung Sha Wan within this year's first quarter, promising to add 700 flats to the housing inventory.
The announcement aligns with Wheelock Properties executive director Ricky Wong's prediction that the property market will find its footing in the first half of the year before moving on an upward trajectory in the latter half.
In a notable market contraction, January witnessed the property agency branches count dwindle to 243, marking the sharpest decline in a decade, plummeting to a six-year nadir of 6,805 branches.
The sector also saw a continuous decrease in the number of agents, now standing at 39,309. This downturn has persisted for ten months, reaching a low not seen in nearly four years.
Despite these downward trends, Midland Realty's data showed a 40 percent annual increase in new property sales surpassing the HK$100 million mark, totaling 60 last year. Nevertheless, this figure is a significant 70 percent dip from the peak levels of 2021.
Overall, new property transactions reached 10,500, climbing 14.9 percent higher than the previous year, yet it still represents the second-lowest count of the past decade. Notably, 19 high-value sales on Hong Kong Island constituted more than 30 percent of the over HK$100 million transactions.
Topping the transaction list was House 12 of Mount Nicholson Phase 1, fetching HK$577 million. It was followed by a Central Peak II residence at HK$400 million and a triplex at Dukes Place for HK$287 million.
January saw a surge in high-value property exchanges, with 30 transactions over HK$30 million, a 25 percent increase from December, buoyed by China's cut in the reserve ratio. The Peak and Southern region alone recorded seven sales, outstripping the previous month by four.
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