Midland Realty: It is estimated that there were a total of 8,300 overall building sales contracts recorded in Hong Kong in December, reaching a new high in nearly 20 months.

Yang Mingyi, Senior Co-Chairman of the Research Department of Midland Realty, pointed out that as of December 19, there were 6,396 overall building sale and purchase agreements registered in Hong Kong for December 2025 (including residential, parking spaces, and commercial properties), with a total value of 47.407 billion Hong Kong dollars. It is estimated that the total for the whole month will reach around 8,300 transactions and 62 billion Hong Kong dollars, representing increases of 16.6% and 6.1% respectively compared to November's 7,121 transactions and 58.429 billion Hong Kong dollars. The number of transactions will reach a new high in nearly 20 months since April 2024, while the amount will reach a new high in nearly 6 months since June of this year. The active registration of transactions reflects a positive market sentiment after two interest rate cuts, with property prices steadily rising and strengthening buyer confidence. In November, developers began selling parking spaces in Taikoo City, the Hong Kong Housing Society launched two public housing projects, and buyers also entered the market for the new phase of Pak Shek Wo, stimulating the registration volume to exceed 8,000 transactions. Overall registration for 2025 is currently at 78,099 transactions and 5.96638 billion Hong Kong dollars, which is 14.9% and 11.7% higher than the total for 2024 of 67,979 transactions and 5.34140 billion Hong Kong dollars. The forecast for the whole year is around 80,000 transactions and 611 billion Hong Kong dollars, representing increases of nearly 20% and nearly 15% compared to the previous year, respectively, and setting a new high in the past 4 years since the peak in 2021 with 96,133 transactions and 917.838 billion Hong Kong dollars. In terms of first-hand private residential properties, as of December 19, there were 1,365 transactions and 15.13 billion Hong Kong dollars registered for December. The forecast for the entire month is around 1,700 transactions and 20 billion Hong Kong dollars, a decrease of 6.2% and 12.7% respectively compared to November's 1,813 transactions and 22.91 billion Hong Kong dollars. Although the trading volume for first-hand properties has decreased, it has remained above 1,500 transactions for 10 consecutive months, setting a record not seen in over 21 years since March 2004. This indicates that new projects are well-received by homeowners and investors, resulting in good sales. Furthermore, for the whole year of 2025, there were 20,159 transactions and 2.2006 billion Hong Kong dollars registered for first-hand properties, which is 19.5% and 5.6% higher than the 16,869 transactions and 2.0847 billion Hong Kong dollars in 2024. The forecast for the whole year is around 20,500 transactions and 2.250 billion Hong Kong dollars, representing an increase of over 20% and nearly 10% compared to the previous year, setting a new high in 6 years since the peak in 2019 with 20,685 transactions and 2.3679 billion Hong Kong dollars. In December, the new project with the highest number of registrations is Fuk Ling Juren (public housing), with 332 transactions and 1.344 billion Hong Kong dollars. The second is Kam Pui Fung in Yau Tong, with 149 transactions and 0.835 billion Hong Kong dollars. The third is Kwun Tong Junran (public housing) with 137 transactions and 0.69 billion Hong Kong dollars. The fourth is the first phase of Kai Tak Bay, with 125 transactions and 0.869 billion Hong Kong dollars. The fifth is Kai Tak Tiara (Phase 2), with 108 transactions and 1.442 billion Hong Kong dollars. As for second-hand private residential properties, as of December 19, there were 2,820 transactions valued at 22.10 billion Hong Kong dollars for December. The forecast for the entire month is around 3,800 transactions and 30 billion Hong Kong dollars, representing increases of 7.0% and 7.3% respectively compared to November's 3,553 transactions and 27.95 billion Hong Kong dollars. The transaction volume will reach a high point in the past 8 months since April of this year, while the amount will reach a new high in nearly 20 months since April 2024. Buyer willingness to enter the market is strong, with active second-hand transactions remaining above 3,000 transactions for 9 consecutive months, a situation not seen since December 2021 over the past 4 years (48 months). Furthermore, for the whole year of 2025, there were 38,695 transactions and 2.837 billion Hong Kong dollars registered for second-hand properties, which is 14.5% and 17.1% higher than the 33,792 transactions and 2.423 billion Hong Kong dollars in 2024. The forecast for the whole year is around 39,700 transactions and 291.5 billion Hong Kong dollars, representing an increase of nearly 20% and over 20% compared to the previous year, setting a new high in 4 years since the peak in 2021 with 51,928 transactions and 475.0 billion Hong Kong dollars. In terms of large-scale housing estates, in December, Mei Foo Sun Chuen had 28 transactions (totaling 184 million Hong Kong dollars), Jia Hu Hill Estate had 27 transactions (totaling 127 million Hong Kong dollars), Sha Tin City One had 24 transactions (totaling 105 million Hong Kong dollars), and Taikoo Shing had 17 transactions (totaling 165 million Hong Kong dollars).