appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Cheryl Arcibal

Hong Kong’s property sales increased to the highest level in four months in March, according to the latest official data as a resurgent stock market and a lower tax scheme for homes spurred sentiment.
Sales of new and lived-in homes, shops, office units, car parking spaces and industrial properties jumped 55 per cent in March from a month earlier to 6,661 lots, while the transaction value soared 61 per cent to around HK$45.65 billion (US$5.9 billion), according to Land Registry data released on Wednesday.
The official data was in line with estimates made a day earlier by Midland Realty and Ricacorp Properties, two of the city’s largest property agencies.
“With favourable property market measures [announced] in the budget at the end of February and the strong performance of Hong Kong stocks in recent months, new property sales have been outstanding,” said Midland chief analyst Buggle Lau Ka-fai.
The bullish momentum is likely to be sustainable, with the forecast for deals in April to reach 7,040 lots, Ricacorp said. That would be the highest monthly transactions since the 7,695 lots in November, the agency said.
The revival in the city’s real estate industry vindicates the stamp duty cuts announced in February by Financial Secretary Paul Chan Mo-po, who slashed the levy on homes worth up to HK$4 million to HK$100 from HK$60,000. The previous threshold was HK$3 million. The change could spur sales of HK$4 million flats to account for 30 per cent of private home sales, up from 25 per cent in 2024, CBRE said.
In the first quarter of the year, 901 homes priced at HK$4 million or below were sold, which was about 138 per cent higher than the fourth quarter, according to Midland. In March alone, 442 of these homes in this price range were bought.
“The easing of stamp duties for properties worth HK$4 million has led to many buyers chasing small residential units,” said Ricacorp’s head of research Derek Chan.
Higher demand for the HK$4 million and below price segment “will persist over the coming months”, said Eddie Kwok, executive director for valuation and advisory services at CBRE Hong Kong.
A booming stock market also lifted sentiment, encouraging more buyers to enter the market. Hong Kong’s Hang Seng Index has risen by about 14.5 per cent this year, lifting its market value to about HK$26.7 trillion.
Buyers of residential property were the most active, increasing their purchases by about 64 per cent to 5,630 units, up from 3,442 in February, Midland added. Commercial and industrial deals increased by about 46 per cent to 396 units, while transactions for car parking spaces jumped about 28 per cent to 354.
In the first three months of the year, overall property sales jumped by more than 26 per cent to 12,603 units from a year earlier, according to the latest data from the Land Registry.
Despite the improving property sales, prices in the secondary home market fell for the third straight month in February, according to the Rating and Valuation Department.
Lived-in home prices retreated 0.9 per cent in February from the preceding month to the lowest since July 2016, according to an index compiled by the department.
Hong Kong’s home prices saw the second largest fall in the fourth quarter, declining 8.2 per cent, among 55 global markets tracked by Knight Frank. Only mainland China fared worse with an 8.6 per cent slump, the consultant’s report released on Tuesday showed.
Savills expects prices for mass residential homes in the city to drop between 5 and 10 per cent this year, and decline by up to 5 per cent for luxury flats, while town houses are likely to see their worth retreat by 5 per cent, it said in its latest report.


Why a hawkish US Fed won’t derail Hong Kong’s property recovery

Once the world’s most-visited city, Hong Kong now converts hotels into student dorms

Housing prices surge near new Huanggang Port as buyers eye ‘dual-city’ lifestyle

Will AI adoption shrink office space? Asia-Pacific firms are on the fence in survey

Hong Kong property

Hong Kong’s March property sales rise to 4-month high, in a sign of improving sentiment

Property agents and potential buyers gather at the venue on the selling day of 133 units of “The Reserve”, Phase 2 of Gold Coast Bay in Tuen Mun. Photo: Elson Li 

Hong Kong’s home prices fall towards decade low on interest rate, tariff headwinds

A man walks past a real estate agency in Causeway Bay in January 2025. Photo: Antony Dickson

Hong Kong mortgage loans surge to 9-month high as new homebuyers seek more financing

A man passes a property agency in Mong Kok. Photo: Elson Li

Business

News

Property

Hong Kong & China

Hong Kong

Hong Kong Economy

Sales of new and lived-in homes, shops, office units, car parking space and industrial properties jumped by 55 per cent to 6,657 lots last month


Sales of new and lived-in homes, shops, office units, car parking space and industrial properties jumped by 55 per cent to 6,657 lots last month.


Hong Kong’s March property sales rise to 4-month high, in a sign of improving sentiment

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Sales of new and lived-in homes, shops, office units, car parking space and industrial properties jumped by 55 per cent to 6,657 lots last month

Sales of new and lived-in homes, shops, office units, car parking space and industrial properties jumped by 55 per cent to 6,657 lots last month