Hong Kong home sales surge among lower-priced units thanks to stamp-duty adjustment
From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent increase from the same period last year, according to data disclosed by the government on Wednesday.
The surge in activity came after the government adjusted stamp duty bands on February 26 to ease the burden on buyers of lower-valued properties. The maximum value of properties eligible for a flat HK$100 stamp duty was raised to HK$4 million from HK$3 million, helping buyers save up to HK$59,000.
The fresh figures reinforced a broader improvement in Hong Kong's housing market. Residential transactions in June
climbed to a seven-month high of 5,955 units, up 16.7 per cent from May, according to the Land Registry. It also marked the fourth consecutive month in which sales exceeded 5,000 units, a streak last seen before the 2021 market downturn.
'The fact that positive performance has continued this year, despite the absence of significant stimulus, indicates a more resilient and fundamentally sound housing market,' said Eddie Kwok, executive director at CBRE, in a research note on Thursday.
In the first half of 2025, residential transactions rose 4.2 per cent year on year to 28,947 units, with about two-thirds coming from the secondary market, according to data compiled by property consultancy CBRE.
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