Asian private wealth an emerging force in property investment

Every quarter, Knight Frank publishes a report on luxury residential transactions – sales of homes worth US$10 million or more – in 12 leading markets around the world. In the final quarter of last year, Hong Kong was the second most actively traded market after Dubai, recording 81 deals with a total value of US$1.5 billion.

For 2025 as a whole, Hong Kong was the fourth most widely traded market, ahead of London, which topped the ranking in 2022. Hong Kong’s strong performance is mostly attributable to the surge in investment by mainland Chinese buyers, a trend that is accelerating.

According to Midland Realty, the number and volume of residential transactions involving mainland buyers last quarter rose 52 per cent and 93 per cent respectively in annualised terms to record highs. In the two years following the removal of property cooling measures in February 2024, mainland purchasers accounted for 72 per cent of new home sales above HK$50 million (US$6.4 million), 66 per cent of transactions in the HK$20-50 million price bracket, and 55 per cent in the HK$10-20 million range.