2025-02-21 28Hse Editor
According to data from the Sales of First-hand Residential Properties Electronic Platform and market sources analysed by Midland Realty Research Center, as of August 19 this year, there have been 10,083 new property transactions. This accounts for approximately 96.2% of last year's total of 10,479 transactions and represents a more than 10% increase from the nearly 9,100 transactions in 2022. New property transactions this year have already involved about HK$122.9 billion, an 11.5% increase over last year's total of approximately HK$110.2 billion, setting a new three-year high.
Buggle Lau, the chief analyst at Midland Realty, noted that according to the Electronic Platform, which divides transactions by three districts, Kowloon recorded the most new transactions. As of August 19 this year, there were 6,079 transactions, surpassing last year's total of 4,755 and representing an increase of about 27.8%. Hong Kong Island, including Discovery Bay, recorded 1,403 transactions, a significant jump of approximately 1.92 times compared to last year’s 480 transactions, driven primarily by the low base effect from the previous year.
Conversely, in the New Territories, there have been 2,601 transactions so far this year, which is still about half of last year's total of 5,244. However, with major residential projects expected to launch in the New Territories by the end of the year and ongoing sales of remaining inventory, the total number of transactions is expected to rapidly increase.
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