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South China Morning Post
04-08-2025
- Business
- South China Morning Post
Hong Kong's residential property transactions fall in July from a month earlier
Residential property transactions in Hong Kong fell in July after hitting a seven-month high in June , though activity remains steady, with analysts expecting a rebound in the second half of this year. Overall property deals in July – covering homes, office units, shops, industrial premises and car parking slots – dipped 0.8 per cent from June to 7,212, the Land Registry said on Monday. Property worth HK$54.6 billion (US$7 billion) changed hands, down 17.8 per cent from a month earlier. Housing transaction value fell 24.1 per cent from June to July to HK$46.4 billion, while the number of deals dropped 3.2 per cent to 5,766 units. The primary and secondary housing markets posted month-on-month declines of 43.3 per cent and 0.7 per cent, respectively. Despite the drop, the city's residential segment has maintained its overall recovery trend, with transaction volume exceeding 5,000 units for five months straight – the first time since a market downturn began in late 2021, according to CBRE. 'The government's policy on lowering stamp duty to HK$100 for properties valued up to HK$4 million contributed to vibrant residential transactions,' said Eddie Kwok, executive director for valuation and advisory services at the property consultancy. 'We expect developers actively pushing units below HK$5 million to tap the trend in order to clear more inventories,' he said. Kwok also expected transaction volume to increase steadily over the coming months, resulting in positive growth in the second half from a year earlier.
South China Morning Post
09-07-2025
- Business
- South China Morning Post
Hong Kong home sales surge among lower-priced units thanks to stamp-duty adjustment
Hong Kong's residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures. 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.
South China Morning Post
03-07-2025
- Business
- South China Morning Post
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. Advertisement 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. Advertisement Residential sales for the first half of 2025 rose 4.2 per cent from a year earlier to 28,947 units, the data showed.
South China Morning Post
26-06-2025
- Business
- South China Morning Post
Hong Kong home prices post tiny gain in April, bolstering case for end of long slump
Hong Kong's lived-in home prices posted a small gain for the second straight month in May, according to official data, fortifying hopes of a sustained recovery in the city's property market. Advertisement An official index measuring secondary home prices inched up by 0.03 per cent in May from a month earlier, the Rating and Valuation Department said on Thursday. In April, the gauge rose 0.35 per cent from March. In the first five months of the year, second-hand home prices declined by 0.9 per cent. They are down 28 per cent from a peak in September 2021. 'While residential prices are bottoming out, significant rises are not expected in 2025,' said Eddie Kwok, executive director for valuation and advisory services at CBRE Hong Kong. 'Given the improvement in market sentiment coupled with low financing costs, we maintain our forecast of 0 per cent to 5 per cent growth in residential prices for 2025. This may also call an end to the residential market correction since 2021.' Advertisement Prices retreated slightly in Class E segment – homes with saleable area of at least 160 square metres (1,722 sq ft) – while four other housing categories were either unchanged or posted small gains, the data showed.
Business Times
28-05-2025
- Business
- Business Times
Hong Kong home prices snap falling streak in April
[HONG KONG] Hong Kong's home prices ended four months of decline and edged up in April, government figures showed on Wednesday (May 28), as falling mortgage rates helped lift buying sentiment. Private home prices rose 0.4 per cent in April from the month before, following a revised 0.3 per cent fall in March, data from the Rating and Valuation Department showed. The prices have dropped 1.2 per cent so far this year to their lowest level since 2016. Home prices in Hong Kong, one of the world's most unaffordable cities, have tumbled nearly 30 per cent from a 2021 peak, hurt by higher mortgage rates, a weak economic outlook, and poor demand as many professionals have left the territory. Authorities tried to prop up the sector last year, lifting all curbs on property purchases and relaxing down payment ratios, but housing demand has remained soft. Realtors forecast home prices in 2025 could rise or fall by 5 per cent, depending on the pace of official rate cuts and the severity of trade tensions between China and the United States. Eddie Kwok, executive director of real estate consultancy CBRE, said if the interbank rate continues to fall, the residential property market may see a recovery as it may cost less to repay mortgage as compared to rent. One-month Hong Kong dollar interbank rate Hibor, which many of the mortgage plans are linked to, hit a fresh three-year low this week, making mortgage rates more affordable for home buyers. REUTERS
