Hong Kong Property: It is expected that over 440 registrations of second-hand residential properties priced over 10 million Hong Kong dollars will be recorded in August.

Director of the Hong Kong Property Research Department, Mr. Wang Pindi, stated that according to data from the Land Registry, there were 358 registered transactions of second-hand residential properties valued at over 10 million Hong Kong dollars from August to present (as of the 25th), a decrease of about 9.4% compared to the same period last month. Based on the current registration progress, it is estimated that there will be about 440 transactions for the full month of August. Although the number of transactions has decreased month-on-month, it is still about 6% higher than the average of about 415 transactions per month in the first seven months of the year. Compared to the decrease of about 12.3% in the number of registrations of second-hand residential properties (including second-hand private homes and second-hand public housing) to 3,042 transactions from August to present, compared to the same period last month with 3,468 transactions, the registration volume of second-hand residential properties valued at over 10 million Hong Kong dollars has performed better than the overall market. The proportion of registrations of second-hand residential properties valued at over 10 million Hong Kong dollars to the total registrations of second-hand residential properties is approximately 11.8% from August to present, an increase of about 0.3 percentage points compared to July. In terms of the performance of registrations of second-hand residential properties valued at over 10 million Hong Kong dollars in the three districts from August to present, the New Territories recorded 118 transactions, a decrease of about 11.3% compared to the same period last month, while Kowloon recorded 102 transactions, a decrease of about 27.7% compared to the same period last month. On the other hand, Hong Kong Island recorded 138 transactions, an increase of about 14% compared to the same period last month.