Hong Kong Property Market: Overall property registration volume in the first half of September increased by 6.3% compared to the previous month. There is a chance that the total for the month could reach over 7,000 transactions.

Director Wang Pindi of the Hong Kong Real Estate Research Department stated that according to data from the Hong Kong Land Registry, a total of 3512 properties (including first-hand private residential properties, second-hand residential properties, first-hand public housing, commercial properties, pure parking spaces, and other non-residential properties) have been registered so far this month (as of the 15th), an increase of approximately 6.3% compared to the same period last month. If the current registration progress continues, it is expected that the total number of property registrations for the entire month of September will exceed 7000. Given that it takes time from signing a sales contract to submitting it for registration at the Hong Kong Land Registry, property registrations in September generally reflect the market conditions of August. With the upcoming release of the Policy Address and market expectations of the Federal Reserve restarting its interest rate cut cycle, creating a positive atmosphere in the real estate market, it is anticipated that property transactions in the second half of the month will accelerate, leading to further increase in property registrations in October that reflect the market conditions of September. In terms of the performance of different types of property registrations in the first half of this month, in the residential property category, a total of 3,086 registrations were recorded for first-hand private residential properties and second-hand residential properties, an increase of approximately 7.8% compared to the same period last month, which has been a driving force behind the overall increase in property registrations during the same period. As for non-residential properties, a total of 169 registrations were recorded for commercial properties so far this month, a slight decrease of 1 unit or approximately 0.6% compared to the same period last month, showing a stable trend. On the other hand, a total of 210 registrations were recorded for pure parking spaces and other properties, a decrease of approximately 11% compared to the same period last month.