Meliain: It is expected that the total number of property registrations in Hong Kong will exceed 80,000 this year, reaching a new high in both quantity and value in the past 4 years.

This year, the real estate market in Hong Kong is booming, with both the number of transactions and the amount of registration on the rise. According to data from the Land Registry compiled by Midland Realty Research, as of December 23, the overall property market in Hong Kong (including first-hand private buildings, second-hand residential properties, first-hand public housing, commercial properties, parking spaces, and others) has seen 78,948 transactions, an increase of about 16.1% compared to the previous year, with a total registration amount of HK$6,006.6 billion, an increase of about 12.5% compared to the previous year, both reaching a 4-year high. Midland Realty analyst Samson Sum pointed out that the real estate market has significantly picked up this year, especially the residential market benefiting from multiple favorable factors such as rising rents and falling interest rates. The concept of "renting is cheaper than buying" is attracting tenants to consider buying, accelerating their decision to enter the market. At the same time, rental yields remain relatively attractive, and long-term investors are also actively entering the market. The Hong Kong government's adjustment of stamp duty measures on low-priced properties at the beginning of the year has stimulated positive sentiment in the residential market, driving the overall property market to new heights. It is expected that the total number of property registrations this year will eventually exceed 80,000 transactions. It is worth noting that looking at the market performance in the second half of the year, it is clear that the market performed better in the second half, possibly due to the positive impact of the stock market's performance and the Federal Reserve's decision to cut interest rates in the United States. According to data, in the second half of the year (as of December 23), the total property registration transactions were about 42,100, with a total amount of approximately HK$3,236.3 billion, representing an increase of about 14.3% and 16.8% compared to the first half of the year, both reaching a 4-year high. Looking back at the residential market this year, excluding first-hand public housing, as of December 23, there were a total of 65,677 registrations for first-hand private buildings and second-hand residential properties, an increase of about 14% compared to the previous year, with a total amount of HK$5,231.9 billion, an increase of about 12% compared to the previous year, both reaching a 4-year high in terms of registration volume and amount, reflecting the overall positive trend in the market.