In the first half of the year, the transaction volume of first-hand residential properties in Hong Kong hit a new high in 6 years. Tony Chan, of East Land Property, said that the property market will bottom out in the second quarter.

Chen Yucheng, Director of the Real Estate Department of Dongli Real Estate, stated that currently there are no major issues in US-China relations, and the existing Hong Kong Interbank Offered Rate (HIBOR) interest rates will remain around 1.1% or not exceed 2%, at least until the third quarter, which will have a positive impact on the Hong Kong economy. The luxury housing market in Hong Kong has already bottomed out in the first quarter, the overall property market in the second quarter, and the commercial market may bottom out in the fourth quarter or by the end of the year. Li Songxian, Director of the Hong Kong Island District of Midland Realty, stated that due to the improvement in the property market trend, purchasing power continues to surge. It is believed that there is a chance for over 100 transactions with a transaction value exceeding 50 million Hong Kong dollars in the Hong Kong Island District in the second half of the year, and the transaction volume in the southern district of the Peak is also expected to show a significant increase of over 30% compared to the first half of the year, reaching over 100 transactions. Li Songxian pointed out that in the first half of this year, there were approximately 9,306 first-hand transactions in Hong Kong, an increase of about 34% compared to the second half of last year (approximately 6,929 transactions), and an 8% increase compared to the same period last year (approximately 8,619 transactions), reaching a 6-year high. It is worth noting that the performance of first-hand transactions in the Hong Kong Island District (including Discovery Bay) was outstanding, with approximately 1,504 transactions recorded in the first half of the year, showing a 52% increase compared to approximately 987 transactions in the second half of last year and a 22% increase compared to approximately 1,232 transactions in the first half of last year, setting a new 7-year high. In terms of luxury housing, in the first half of this year, there were approximately 83 transactions of super luxury properties exceeding 50 million Hong Kong dollars in the Hong Kong Island District (including Discovery Bay), a 17% increase compared to approximately 71 transactions in the second half of last year, and a 19% increase compared to approximately 70 transactions in the same period last year. This marks a 7-year high compared to the 83 transactions recorded in the first half of 2018. Fang Fuyi, Chief Regional Business Director of Midland Realty in the Peak and Southern District, stated that despite global political and economic fluctuations in the first half of this year, transaction volume in the Southern District of the Peak continued to grow compared to the second half of last year. In the first half of this year, there were approximately 76 transactions in the Southern District of the Peak, a 38.18% increase compared to approximately 55 transactions in the second half of last year, reaching a new high in the past 3 and a half years since the second half of 2021. The transaction amount recorded was 7.556 billion Hong Kong dollars, a decrease of approximately 20.53% compared to approximately 9.508 billion Hong Kong dollars in the second half of last year, showing a situation of increasing volume with a decrease in amount.