Hong Kong property market ‘resilient and fundamentally sound’ as sales hit 7-month high

Property deals in Hong Kong surged to a seven-month high in June while home sales exceeded a key threshold for the fourth straight month, according to official data, contributing to a more positive outlook for the battered sector.

Overall property deals in June – homes, office units, shops, industrial premises and car parking slots – rose by about 13 per cent from May to 7,271, the Land Registry said on Thursday. Property worth HK$66.41 billion (US$8.46 billion) changed hands, up by more than a third from a month earlier.

Residential transactions in June also hit the highest point in seven months at 5,955 units, 16.7 per cent higher than in May, the data showed. It was the first time since the market downturn began in late 2021 that home sales topped 5,000 units for four months in a row, according to CBRE.

“The fact that positive performance has continued this year, despite the absence of significant stimulus, indicates a more resilient and fundamentally sound residential market,” said Eddie Kwok, executive director for valuation and advisory services at the property consultancy.

The number of property deals in June was the highest since 7,689 in November, and the value was the highest since April last year when sales hit HK$83.9 billion, according to data compiled by agents.

Residential sales for the first half of 2025 rose 4.2 per cent from a year earlier to 28,947 units, the data showed.