Hong Kong Property Ownership: Hong Kong's overall property registration volume exceeded 60,000 transactions in the first 10 months, an increase of 10% year-on-year.

Wang Pindi, director of the research department of Hong Kong Property, stated that according to data from the Land Registry, a total of 60,095 properties were registered in Hong Kong in the first 10 months of this year (up to October 13), including new private homes, second-hand homes, public housing, commercial properties, parking spaces, and other non-residential properties. This represents an increase of approximately 9.7% compared to the same period last year, reaching a new high for the same period in the past 4 years. There have been several positive news for the Hong Kong property market this year, including the lowering of the stamp duty tax cap in the February budget, the relaxation of the investment threshold for the "Capital Investment Entrant Scheme" in September, and the Federal Reserve's resumption of interest rate cuts in September. Major banks in Hong Kong have also reduced their prime rates by 0.125%, creating a favorable atmosphere for the property market. However, recent fluctuations in US-China relations have added uncertainties to the future. In terms of property registration volume in the first 10 months of this year (up to October 13) compared to the same period last year, the registration of residential properties, including new private homes and second-hand homes, increased by approximately 8.3% to 50,483 properties. On the other hand, non-residential properties, including commercial properties, recorded a total of 3,565 registrations in the first 10 months of this year, an increase of approximately 30.7% compared to the same period last year. In contrast, the registration of parking spaces and other properties decreased by approximately 1.9% to 4,037 registrations compared to the same period last year.