Hong Kong Property Market: Hong Kong's second-hand residential registration volume exceeds 10 million Hong Kong dollars in January, with the highest proportion in 7 months.

Director of Research at Hong Kong Property Department, Wang Pin-di, said that according to data from the Land Registry, there were 3091 registrations of second-hand residential properties (including second-hand private residential and second-hand public housing) in Hong Kong in January, a decrease of about 12.5% compared to the 3534 registrations in December of last year; Among these, there were 357 registrations of second-hand residential properties priced over 10 million Hong Kong dollars, a decrease of about 5.6% compared to the 378 registrations in December of last year, with a smaller month-on-month decline than the overall market. As a result, the ratio of second-hand residential properties priced over 10 million Hong Kong dollars to the overall registration volume increased from around 10.7% in December last year to around 11.5% in January this year, an increase of about 0.8 percentage points, reaching a 7-month high. Since it takes time from signing the sales contract to submitting it for registration at the Land Registry, the cases registered in January 2025 generally mainly reflect the market conditions in December 2024. When comparing the performance of registrations of second-hand residential properties priced over 10 million Hong Kong dollars in January by district (Hong Kong Island, Kowloon, and New Territories), there were 131 registrations in Hong Kong Island, a decrease of about 10.3% compared to the 146 registrations in December of last year; 99 registrations in the New Territories, a decrease of about 5.7% compared to the 105 registrations in December of last year; and 127 registrations in Kowloon, remaining stable month-on-month.